Envoy Medical, Inc. (NASDAQ:COCH) Sees Significant Decline in Short Interest

Envoy Medical, Inc. (NASDAQ:COCH) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 178,600 shares, a decrease of 40.7% from the August 31st total of 301,400 shares. Based on an average daily volume of 313,700 shares, the short-interest ratio is presently 0.6 days. Currently, 1.8% of the company’s shares are sold short. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 313,700 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Envoy Medical in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Envoy Medical has an average rating of “Hold” and a consensus price target of $9.25.

Hedge Funds Weigh In On Envoy Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in COCH. NorthRock Partners LLC purchased a new stake in shares of Envoy Medical in the 2nd quarter worth approximately $14,612,000. Focus Partners Wealth bought a new position in Envoy Medical in the first quarter worth approximately $276,000. Arcus Capital Partners LLC purchased a new stake in Envoy Medical during the first quarter worth $244,000. Finally, Citadel Advisors LLC bought a new stake in Envoy Medical during the 4th quarter valued at $42,000. Institutional investors own 8.59% of the company’s stock.

Envoy Medical Stock Performance

Shares of NASDAQ:COCH opened at $0.81 on Tuesday. The firm has a market cap of $19.21 million, a PE ratio of -0.56 and a beta of 2.09. The firm’s 50 day simple moving average is $1.23 and its 200-day simple moving average is $1.39. Envoy Medical has a one year low of $0.74 and a one year high of $3.41.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.03). The company had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.07 million. Equities research analysts predict that Envoy Medical will post -1.21 EPS for the current fiscal year.

About Envoy Medical

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.