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

Envoy Medical, Inc. (NASDAQ:COCH) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 178,600 shares, a decrease of 40.7% from the August 31st total of 301,400 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average trading volume of 313,700 shares, the short-interest ratio is presently 0.6 days. Based on an average trading volume of 313,700 shares, the short-interest ratio is presently 0.6 days. Currently, 1.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in COCH. NorthRock Partners LLC purchased a new stake in shares of Envoy Medical in the 2nd quarter valued at approximately $14,612,000. Focus Partners Wealth purchased a new position in Envoy Medical in the first quarter valued at $276,000. Arcus Capital Partners LLC purchased a new position in Envoy Medical in the first quarter valued at $244,000. Finally, Citadel Advisors LLC purchased a new stake in Envoy Medical during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Envoy Medical Price Performance

Shares of NASDAQ COCH opened at $0.81 on Friday. The company has a market cap of $17.52 million, a price-to-earnings ratio of -0.57 and a beta of 2.09. The stock’s 50-day moving average is $1.25 and its two-hundred day moving average is $1.39. Envoy Medical has a 1-year low of $0.74 and a 1-year high of $3.41.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.03). The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.07 million. Equities research analysts anticipate that Envoy Medical will post -1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Envoy Medical in a research note on Saturday, September 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, Envoy Medical presently has a consensus rating of “Hold” and an average target price of $9.25.

Envoy Medical Company Profile

Envoy Medical, Inc, a hearing health company, provides medical technologies for the hearing loss spectrum. Its products include personal sound amplification devices; hearing aids; Esteem fully implanted active middle ear implants; auditory osseointegrated implants; and Acclaim cochlear implants. The company was formerly known as Envoy Medical Corporation and changed its name to Envoy Medical, Inc in September 2023.