CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Sees Significant Decline in Short Interest

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 16,077 shares, a drop of 75.9% from the May 31st total of 66,704 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 219,950 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

A number of analysts recently weighed in on CHEOY shares. UBS Group cut shares of CochLear from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Zacks Research upgraded shares of CochLear from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

CochLear Trading Up 1.1%

Shares of OTCMKTS:CHEOY opened at $40.87 on Friday. The business’s fifty day moving average price is $37.94 and its two-hundred day moving average price is $63.48. CochLear has a fifty-two week low of $31.82 and a fifty-two week high of $105.60.

About CochLear

Cochlear Limited provides implantable hearing solutions for children and adults worldwide. It offers cochlear implant systems, sound processor upgrades, bone conduction systems, accessories, and other products. Cochlear Limited was founded in 1981 and is headquartered in Sydney, Australia.