Envoy Medical (NASDAQ:COCH) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Envoy Medical (NASDAQ:COCH) released its quarterly earnings results on Monday. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04), Zacks reports.

Envoy Medical Price Performance

NASDAQ:COCH traded up $0.01 during trading hours on Monday, reaching $0.71. 93,933 shares of the company traded hands, compared to its average volume of 925,813. The firm’s 50-day moving average is $0.98 and its 200-day moving average is $1.31. The stock has a market cap of $18.23 million, a P/E ratio of -0.50 and a beta of 2.09. Envoy Medical has a 1-year low of $0.69 and a 1-year high of $2.32.

Institutional Trading of Envoy Medical

An institutional investor recently bought a new position in Envoy Medical stock. Focus Partners Wealth bought a new stake in Envoy Medical, Inc. (NASDAQ:COCH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 212,655 shares of the company’s stock, valued at approximately $276,000. Focus Partners Wealth owned about 1.00% of Envoy Medical at the end of the most recent quarter. 8.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a report on Thursday, October 30th. Wall Street Zen raised Envoy Medical to a “sell” rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.50.

Envoy Medical Company Profile

Envoy Medical, Inc, a hearing health company, provides medical technologies for the hearing loss spectrum. Its products include personal sound amplification devices; hearing aids; Esteem fully implanted active middle ear implants; auditory osseointegrated implants; and Acclaim cochlear implants. The company was formerly known as Envoy Medical Corporation and changed its name to Envoy Medical, Inc in September 2023.