Envoy Medical (NASDAQ:COCH) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Envoy Medical (NASDAQ:COCH) released its earnings results on Monday. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04), Zacks reports. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.05 million.

Envoy Medical Stock Down 0.7%

Shares of COCH traded down $0.01 during midday trading on Tuesday, reaching $0.70. The company had a trading volume of 24,808 shares, compared to its average volume of 922,449. Envoy Medical has a 1-year low of $0.69 and a 1-year high of $2.32. The stock has a market cap of $17.84 million, a PE ratio of -0.49 and a beta of 2.09. The firm has a 50 day simple moving average of $0.97 and a 200-day simple moving average of $1.30.

Hedge Funds Weigh In On Envoy Medical

A hedge fund recently bought a new stake in Envoy Medical stock. Focus Partners Wealth purchased a new stake in shares of Envoy Medical, Inc. (NASDAQ:COCH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 212,655 shares of the company’s stock, valued at approximately $276,000. Focus Partners Wealth owned 1.00% of Envoy Medical at the end of the most recent reporting period. 8.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a report on Thursday, October 30th. Wall Street Zen raised shares of Envoy Medical to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.50.

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.