Envoy Medical (NASDAQ:COCH) Shares to Reverse Split on Monday, October 26th

Envoy Medical, Inc. (NASDAQ:COCH)’s stock is scheduled to reverse split before the market opens on Monday, October 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 25th.

Envoy Medical Trading Down 7.9%

Envoy Medical stock traded down $0.05 during midday trading on Thursday, reaching $0.60. The stock had a trading volume of 195,046 shares, compared to its average volume of 73,464. Envoy Medical has a twelve month low of $0.36 and a twelve month high of $0.95. The firm’s fifty day simple moving average is $0.70 and its two-hundred day simple moving average is $0.69.

Envoy Medical (NASDAQ:COCH) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.05 million. Research analysts forecast that Envoy Medical will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

COCH has been the subject of several recent analyst reports. Lake Street Capital initiated coverage on Envoy Medical in a research report on Tuesday, October 6th. They issued a “buy” rating and a $2.50 target price for the company. Loop Capital set a $2.00 price target on Envoy Medical in a research report on Monday, July 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a research note on Monday. Finally, HC Wainwright restated a “buy” rating on shares of Envoy Medical in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.17.

Hedge Funds Weigh In On Envoy Medical

A hedge fund recently bought a new stake in Envoy Medical stock. DSG Capital Advisors LLC purchased a new position in Envoy Medical, Inc. (NASDAQ:COCH) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned about 0.81% of Envoy Medical at the end of the most recent quarter. Institutional investors and hedge funds own 8.59% of the company’s stock.

Envoy Medical Company Profile

Envoy Medical, Inc is a medical device company focused on developing fully implanted hearing solutions for people with hearing loss. The company’s technology is designed to use the body’s natural anatomy to capture sound and deliver hearing signals without the need for externally worn components.

Its lead product is the Acclaim Fully Implanted Cochlear Implant, an investigational device intended for adults with sensorineural hearing loss who may benefit from cochlear implantation. Unlike conventional cochlear implants, the Acclaim system is designed to be fully implanted, including its sound-sensing component, with the goal of allowing users to hear without an external sound processor.