Atlas Merchant Capital LLC Sells 43,892 Shares of Envoy Medical, Inc. (NASDAQ:COCH)

Atlas Merchant Capital LLC cut its position in shares of Envoy Medical, Inc. (NASDAQ:COCH) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 555,527 shares of the company’s stock after selling 43,892 shares during the quarter. Envoy Medical comprises 0.5% of Atlas Merchant Capital LLC’s investment portfolio, making the stock its 28th biggest holding. Atlas Merchant Capital LLC owned approximately 2.83% of Envoy Medical worth $1,311,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Separately, Ascendiant Capital Markets raised their price objective on shares of Envoy Medical from $8.50 to $8.75 and gave the company a “buy” rating in a research note on Tuesday, September 3rd.

Envoy Medical Stock Performance

COCH stock opened at $3.50 on Monday. Envoy Medical, Inc. has a 1-year low of $0.75 and a 1-year high of $11.72. The business has a fifty day moving average price of $2.71 and a 200-day moving average price of $3.41.

Envoy Medical (NASDAQ:COCH) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.08 million. On average, equities analysts predict that Envoy Medical, Inc. will post -1.36 EPS for the current fiscal year.

Envoy Medical 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.