CochLear (OTCMKTS:CHEOY) Trading Down 1% – Time to Sell?

Shares of CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) fell 1% on Tuesday . The company traded as low as $49.74 and last traded at $50.04. Approximately 8,623 shares changed hands during trading, a decline of 63% from the average daily volume of 23,599 shares. The stock had previously closed at $50.5486.

Analysts Set New Price Targets

A number of research firms have recently commented on CHEOY. Jefferies Financial Group cut CochLear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada cut CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price target on the stock. in a research note on Thursday, July 16th. Canaccord Genuity Group lowered CochLear from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Zacks Research upgraded shares of CochLear from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $117.00.

CochLear Trading Down 1.0%

The stock’s 50 day simple moving average is $44.90 and its two-hundred day simple moving average is $47.46.

About CochLear

Cochlear Limited provides implantable hearing solutions for children and adults worldwide. It offers cochlear implant systems, sound processor upgrades, bone conduction systems, accessories, and other products. Cochlear Limited was founded in 1981 and is headquartered in Sydney, Australia.