Envoy Medical (NASDAQ:COCH) Stock Set to Reverse Split on Monday, October 26th

Envoy Medical, Inc. (NASDAQ:COCH) shares are set to reverse split before the market opens on Monday, October 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, October 25th.

Envoy Medical Stock Performance

Shares of NASDAQ:COCH traded down $0.05 during mid-day trading on Thursday, reaching $0.60. The stock had a trading volume of 195,046 shares, compared to its average volume of 73,464. The firm has a 50 day simple moving average of $0.70 and a two-hundred day simple moving average of $0.69. Envoy Medical has a twelve month low of $0.36 and a twelve month high of $0.95.

Envoy Medical (NASDAQ:COCH) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.05 million. As a group, sell-side analysts forecast that Envoy Medical will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on COCH shares. Loop Capital set a $2.00 price target on shares of Envoy Medical in a research report on Monday, July 27th. Lake Street Capital began coverage on Envoy Medical in a research note on Tuesday, October 6th. They set a “buy” rating and a $2.50 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a report on Monday. Finally, HC Wainwright reissued a “buy” rating on shares of Envoy Medical in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.17.

Institutional Trading of Envoy Medical

A hedge fund recently bought a new position in Envoy Medical stock. DSG Capital Advisors LLC purchased a new stake in Envoy Medical, Inc. (NASDAQ:COCH) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned approximately 0.81% of Envoy Medical as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 8.59% of the company’s stock.

Envoy Medical Company Profile

Envoy Medical, Inc is a medical device company focused on developing fully implanted hearing solutions for people with hearing loss. The company’s technology is designed to use the body’s natural anatomy to capture sound and deliver hearing signals without the need for externally worn components.

Its lead product is the Acclaim Fully Implanted Cochlear Implant, an investigational device intended for adults with sensorineural hearing loss who may benefit from cochlear implantation. Unlike conventional cochlear implants, the Acclaim system is designed to be fully implanted, including its sound-sensing component, with the goal of allowing users to hear without an external sound processor.