Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Update

Envoy Medical, Inc. (NASDAQ:COCH) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 1,225,895 shares, an increase of 184.7% from the January 29th total of 430,606 shares. Based on an average daily trading volume, of 3,018,108 shares, the short-interest ratio is presently 0.4 days. Currently, 4.5% of the company’s shares are sold short. Currently, 4.5% of the company’s shares are sold short. Based on an average daily trading volume, of 3,018,108 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COCH. Wall Street Zen upgraded Envoy Medical to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.50.

Insider Activity at Envoy Medical

In other news, CFO Robert Potashnick acquired 212,500 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of $0.40 per share, for a total transaction of $85,000.00. Following the transaction, the chief financial officer directly owned 212,500 shares in the company, valued at approximately $85,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan Kantor bought 96,150 shares of Envoy Medical stock in a transaction on Thursday, February 12th. The shares were acquired at an average price of $0.40 per share, for a total transaction of $38,460.00. Following the completion of the acquisition, the director owned 174,037 shares of the company’s stock, valued at approximately $69,614.80. This represents a 123.45% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 20,433,650 shares of company stock worth $8,173,460. 5.70% of the stock is owned by company insiders.

Institutional Trading of Envoy Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. bought a new stake in Envoy Medical during the third quarter worth about $60,000. Geode Capital Management LLC grew its stake in Envoy Medical by 111.3% in the fourth quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock valued at $65,000 after purchasing an additional 51,813 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Envoy Medical during the 1st quarter worth approximately $276,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Envoy Medical Trading Down 3.4%

Shares of COCH stock opened at $0.72 on Thursday. The firm’s fifty day moving average price is $0.66 and its two-hundred day moving average price is $0.86. Envoy Medical has a 1 year low of $0.36 and a 1 year high of $1.91. The firm has a market capitalization of $20.66 million, a P/E ratio of -0.51 and a beta of 2.10.

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.