Short Interest in Envoy Medical, Inc. (NASDAQ:COCH) Decreases By 25.8%

Envoy Medical, Inc. (NASDAQ:COCH) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 22,700 shares, a decline of 25.8% from the June 15th total of 30,600 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 41,500 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Envoy Medical

A number of large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Envoy Medical during the 1st quarter worth $55,000. WealthTrust Asset Management LLC acquired a new stake in Envoy Medical in the 1st quarter valued at about $44,000. Finally, Weiss Asset Management LP acquired a new stake in Envoy Medical in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 8.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COCH shares. Ascendiant Capital Markets started coverage on shares of Envoy Medical in a research report on Monday, June 24th. They set a “buy” rating and a $8.50 price objective for the company. Lake Street Capital boosted their price objective on shares of Envoy Medical from $3.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd.

Envoy Medical Stock Down 1.7 %

COCH stock traded down $0.04 on Monday, hitting $2.35. The company’s stock had a trading volume of 455 shares, compared to its average volume of 225,088. The firm has a 50 day moving average of $2.60 and a two-hundred day moving average of $3.19. Envoy Medical has a 1 year low of $0.75 and a 1 year high of $11.72.

Envoy Medical (NASDAQ:COCH) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.13). The company had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.08 million. Sell-side analysts expect that Envoy Medical will post -1.05 earnings per share for the current year.

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.