Envoy Medical (NASDAQ:COCH) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Envoy Medical (NASDAQ:COCH) in a report published on Tuesday, Marketbeat reports. The firm issued a buy rating and a $2.50 price target on the stock.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, January 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.00.

Envoy Medical Trading Up 3.5%

COCH opened at $0.67 on Tuesday. The business’s 50 day moving average is $0.68 and its 200-day moving average is $0.76. The stock has a market cap of $51.13 million, a PE ratio of -0.55 and a beta of 2.08. Envoy Medical has a twelve month low of $0.36 and a twelve month high of $1.91.

Envoy Medical (NASDAQ:COCH) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.03 million. As a group, analysts forecast that Envoy Medical will post -1.21 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mona Chetan Patel bought 312,500 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $0.40 per share, for a total transaction of $125,000.00. Following the completion of the transaction, the director directly owned 332,500 shares of the company’s stock, valued at approximately $133,000. This trade represents a 1,562.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Kantor purchased 96,150 shares of the stock in a transaction dated Thursday, February 12th. The shares were purchased at an average price of $0.40 per share, for a total transaction of $38,460.00. Following the completion of the transaction, the director owned 174,037 shares in the company, valued at $69,614.80. This trade represents a 123.45% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 20,433,650 shares of company stock valued at $8,173,460. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new stake in Envoy Medical in the third quarter worth about $60,000. Geode Capital Management LLC grew its stake in shares of Envoy Medical by 111.3% in the 4th quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock worth $65,000 after purchasing an additional 51,813 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Envoy Medical in the 1st quarter worth approximately $276,000. Institutional investors own 8.59% of the company’s stock.

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.