Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Up 106.8% in June

Envoy Medical, Inc. (NASDAQ:COCH) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 30,600 shares, an increase of 106.8% from the May 31st total of 14,800 shares. Based on an average daily trading volume, of 67,700 shares, the short-interest ratio is presently 0.5 days. Approximately 0.5% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Envoy Medical

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Envoy Medical during the first quarter valued at approximately $55,000. WealthTrust Asset Management LLC acquired a new stake in Envoy Medical in the first quarter worth about $44,000. Finally, Weiss Asset Management LP acquired a new position in Envoy Medical during the 4th quarter valued at about $37,000. 8.59% of the stock is currently owned by institutional investors.

Envoy Medical Price Performance

Shares of NASDAQ COCH opened at $2.36 on Friday. The firm’s 50-day moving average price is $3.10 and its two-hundred day moving average price is $3.18. Envoy Medical has a 52-week low of $0.75 and a 52-week high of $11.72.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.08 million. On average, analysts predict that Envoy Medical will post -1.05 EPS for the current year.

About Envoy Medical

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.