Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Down 26.9% in December

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COCH. Wall Street Zen upgraded Envoy Medical to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Institutional Trading of Envoy Medical

Several large investors have recently bought and sold shares of the company. NorthRock Partners LLC acquired a new stake in Envoy Medical during the 2nd quarter valued at $14,612,000. Focus Partners Wealth purchased a new position in Envoy Medical in the 1st quarter valued at about $276,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Envoy Medical during the third quarter valued at about $60,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Envoy Medical Stock Down 2.6%

COCH opened at $0.73 on Monday. Envoy Medical has a 52-week low of $0.64 and a 52-week high of $1.91. The company has a 50 day moving average of $0.76 and a two-hundred day moving average of $1.11. The company has a market cap of $21.02 million, a P/E ratio of -0.52 and a beta of 2.08.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.08). The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.05 million. Research analysts anticipate that Envoy Medical will post -1.21 earnings per share for the current year.

About Envoy Medical

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.