Envoy Medical (NASDAQ:COCH) Research Coverage Started at Lake Street Capital

Lake Street Capital began coverage on shares of Envoy Medical (NASDAQ:COCH) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $2.50 price target on the stock.

COCH has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, July 21st. HC Wainwright lowered their price target on shares of Envoy Medical from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Finally, Loop Capital set a $2.00 price objective on shares of Envoy Medical in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.17.

Envoy Medical Trading Up 0.6%

Shares of NASDAQ:COCH opened at $0.66 on Tuesday. Envoy Medical has a 12-month low of $0.36 and a 12-month high of $1.02. The business’s fifty day simple moving average is $0.71 and its 200-day simple moving average is $0.69. The company has a market capitalization of $50.76 million, a PE ratio of -0.87 and a beta of 1.97.

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

Institutional Investors Weigh In On Envoy Medical

A hedge fund recently bought a new position in Envoy Medical stock. DSG Capital Advisors LLC purchased a new position in Envoy Medical, Inc. (NASDAQ:COCH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned approximately 0.81% of Envoy Medical as of its most recent filing with the Securities and Exchange Commission (SEC). 8.59% of the stock is owned by institutional investors.

About Envoy Medical

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.