Short Interest in Envoy Medical, Inc. (NASDAQ:COCH) Decreases By 26.9%

Envoy Medical, Inc. (NASDAQ:COCH) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 517,339 shares, a decrease of 26.9% from the November 30th total of 707,273 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 192,096 shares, the short-interest ratio is presently 2.7 days. Based on an average daily volume of 192,096 shares, the short-interest ratio is presently 2.7 days. Approximately 1.9% of the shares of the company are sold short.

Hedge Funds Weigh In On Envoy Medical

A number of hedge funds have recently made changes to their positions in COCH. CIBC Bancorp USA Inc. purchased a new stake in Envoy Medical in the 3rd quarter valued at $60,000. Focus Partners Wealth acquired a new stake in shares of Envoy Medical during the first quarter worth about $276,000. Finally, NorthRock Partners LLC acquired a new stake in shares of Envoy Medical in the second quarter valued at $14,612,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COCH. Wall Street Zen upgraded shares of Envoy Medical to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.50.

Envoy Medical Price Performance

Shares of NASDAQ COCH opened at $0.70 on Tuesday. The business has a fifty day moving average price of $0.76 and a 200 day moving average price of $1.11. Envoy Medical has a 1-year low of $0.64 and a 1-year high of $1.91. The stock has a market capitalization of $20.15 million, a P/E ratio of -0.50 and a beta of 2.08.

Envoy Medical (NASDAQ:COCH) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.08). The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.05 million. As a group, equities research analysts anticipate that Envoy Medical will post -1.21 earnings per share for the current fiscal year.

Envoy Medical Company Profile

Envoy Medical (NASDAQ:COCH) is a medical device company focused on non-invasive neuromodulation therapies for dysphagia, a swallowing disorder that affects patients following neurological events or due to degenerative conditions. The company’s lead technology delivers targeted electrical stimulation designed to strengthen the muscles and neural pathways involved in the swallowing process.

Envoy Medical’s flagship therapy has received regulatory clearance from the U.S. Food and Drug Administration and is being introduced through rehabilitation centers, speech-language pathology clinics and acute care hospitals.