Envoy Medical (NASDAQ:COCH) Upgraded at Zacks Research

Zacks Research upgraded shares of Envoy Medical (NASDAQ:COCH) to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other research firms have also weighed in on COCH. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. HC Wainwright initiated coverage on shares of Envoy Medical in a research report on Tuesday. They issued a “buy” rating and a $2.50 price objective for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.

Envoy Medical Price Performance

NASDAQ COCH opened at $0.75 on Wednesday. The stock has a market cap of $57.47 million, a PE ratio of -0.61 and a beta of 2.07. Envoy Medical has a fifty-two week low of $0.36 and a fifty-two week high of $1.91. The business has a 50 day moving average price of $0.68 and a two-hundred day moving average price of $0.76.

Envoy Medical (NASDAQ:COCH) last posted 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 firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.03 million. Sell-side analysts anticipate that Envoy Medical will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Envoy Medical news, Director Susan Kantor bought 96,150 shares of Envoy Medical stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $0.40 per share, for a total transaction of $38,460.00. Following the purchase, the director owned 174,037 shares in the company, valued at $69,614.80. This represents a 123.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mona Chetan Patel purchased 312,500 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were bought at an average cost of $0.40 per share, with a total value of $125,000.00. Following the transaction, the director directly owned 332,500 shares of the company’s stock, valued at approximately $133,000. This represents a 1,562.50% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 20,433,650 shares of company stock worth $8,173,460 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Envoy Medical

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