Envoy Medical (NASDAQ:COCH) Trading Down 1% – What’s Next?

Shares of Envoy Medical, Inc. (NASDAQ:COCH) traded down 1% during trading on Monday . The stock traded as low as $1.38 and last traded at $1.42. 27,689 shares changed hands during trading, a decline of 70% from the average session volume of 92,724 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets increased their price target on shares of Envoy Medical from $8.75 to $9.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Envoy Medical Price Performance

The business has a 50-day simple moving average of $1.47 and a 200 day simple moving average of $2.06.

Institutional Investors Weigh In On Envoy Medical

Several institutional investors and hedge funds have recently modified their holdings of the stock. DSG Capital Advisors LLC bought a new position in shares of Envoy Medical during the 4th quarter valued at about $234,000. Lake Street Advisors Group LLC bought a new position in Envoy Medical during the fourth quarter valued at approximately $65,000. CIBC Private Wealth Group LLC purchased a new position in Envoy Medical during the 4th quarter valued at approximately $65,000. Finally, Citadel Advisors LLC bought a new stake in Envoy Medical in the 4th quarter worth approximately $42,000. Institutional investors own 8.59% of the company’s stock.

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.