CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Stock Short Interest Drops 99.5%

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 74 shares, a decline of 99.5% from the August 31st total of 15,269 shares. Based on an average trading volume of 48,753 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

CochLear Stock Up 0.6%

Shares of CochLear stock traded up $0.28 during trading hours on Friday, reaching $50.08. The company’s stock had a trading volume of 2,979 shares, compared to its average volume of 51,874. The stock’s fifty day simple moving average is $46.35 and its two-hundred day simple moving average is $45.83. CochLear has a one year low of $31.82 and a one year high of $98.49.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group lowered shares of CochLear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Royal Bank Of Canada lowered shares of CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 target price on the stock. in a report on Thursday, July 16th. Zacks Research upgraded CochLear from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group cut CochLear from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, CochLear presently has an average rating of “Hold” and an average price target of $117.00.

About CochLear

Cochlear Limited is an Australian medical device company that develops, manufactures and supplies implantable hearing solutions. Its products are designed for people with severe to profound hearing loss who may not receive sufficient benefit from conventional hearing aids.

The company’s portfolio includes cochlear implants, bone conduction hearing implants, and related sound processors, accessories, software and support services. Cochlear also provides rehabilitation resources, clinical support and ongoing product services intended to help recipients use and maintain their hearing systems.

Founded in 1981 and headquartered in Sydney, Australia, Cochlear serves customers through a global network spanning Australia, New Zealand, North America, Europe, Asia and other international markets.