electroCore Inc. [NASDAQ: ECOR] stock went on a downward path that fall over -3.81% on Wednesday, amounting to a one-week price decrease of less than -32.21%. The company report on June 30, 2021 that electroCore Announces Pricing of $18.0 Million Public Offering of Common Stock.
electroCore, Inc., (NASDAQ: ECOR), a commercial-stage bioelectronic medicine company, announced the pricing of an underwritten public offering of 18,000,000 shares of its common stock at a public offering price of $1.00 per share. The gross proceeds of the offering to the Company are expected to be $18.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 2,700,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
The closing of the offering is expected to occur on or about July 2, 2021, subject to the satisfaction of customary closing conditions.
Over the last 12 months, ECOR stock rose by 17.69%. The average equity rating for ECOR stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $51.22 million, with 47.65 million shares outstanding and 17.87 million shares in the current float. Compared to the average trading volume of 899.40K shares, ECOR stock reached a trading volume of 2031290 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on electroCore Inc. [ECOR]:
BTIG Research have made an estimate for electroCore Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 14, 2020. The new note on the price target was released on November 14, 2019, representing the official price target for electroCore Inc. stock. Previously, the target price had yet another raise to $9, while Cantor Fitzgerald analysts kept a Neutral rating on ECOR stock.
The Average True Range (ATR) for electroCore Inc. is set at 0.11, with the Price to Sales ratio for ECOR stock in the period of the last 12 months amounting to 12.80. The Price to Book ratio for the last quarter was 1.84, with the Price to Cash per share for the same quarter was set at 0.50.
ECOR Stock Performance Analysis:
electroCore Inc. [ECOR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -32.21. With this latest performance, ECOR shares dropped by -43.58% in over the last four-week period, additionally sinking by -40.24% over the last 6 months – not to mention a rise of 17.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ECOR stock in for the last two-week period is set at 20.11, with the RSI for the last a single of trading hit 13.10, and the three-weeks RSI is set at 26.02 for electroCore Inc. [ECOR]. The present Moving Average for the last 50 days of trading for this stock 1.6139, while it was recorded at 1.1120 for the last single week of trading, and 1.8549 for the last 200 days.
Insight into electroCore Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and electroCore Inc. [ECOR] shares currently have an operating margin of -694.65 and a Gross Margin at +50.30. electroCore Inc.’s Net Margin is presently recorded at -672.55.
Return on Total Capital for ECOR is now -90.69, given the latest momentum, and Return on Invested Capital for the company is -92.79. Return on Equity for this stock declined to -99.47, with Return on Assets sitting at -69.55. When it comes to the capital structure of this company, electroCore Inc. [ECOR] has a Total Debt to Total Equity ratio set at 13.01. Additionally, ECOR Total Debt to Total Capital is recorded at 11.51, with Total Debt to Total Assets ending up at 9.50. Long-Term Debt to Equity for the company is recorded at 8.62, with the Long-Term Debt to Total Capital now at 7.63.
Reflecting on the efficiency of the workforce at the company, electroCore Inc. [ECOR] managed to generate an average of -$522,468 per employee. Receivables Turnover for the company is 9.12 with a Total Asset Turnover recorded at a value of 0.10.electroCore Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.20.
electroCore Inc. [ECOR] Insider Position Details
There are presently around $6 million, or 13.00% of ECOR stock, in the hands of institutional investors. The top three institutional holders of ECOR stocks are: VANGUARD GROUP INC with ownership of 1,676,345, which is approximately 33.26% of the company’s market cap and around 3.00% of the total institutional ownership; VALEO FINANCIAL ADVISORS, LLC, holding 1,442,250 shares of the stock with an approximate value of $1.46 million in ECOR stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.49 million in ECOR stock with ownership of nearly 41.735% of the company’s market capitalization.
Positions in electroCore Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 25 institutional holders increased their position in electroCore Inc. [NASDAQ:ECOR] by around 1,785,333 shares. Additionally, 10 investors decreased positions by around 290,575 shares, while 15 investors held positions by with 4,221,034 shares. The mentioned changes placed institutional holdings at 6,296,942 shares, according to the latest SEC report filing. ECOR stock had 13 new institutional investments in for a total of 767,748 shares, while 2 institutional investors sold positions of 24,753 shares during the same period.