CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Stock Short Interest Climbs 1,218.9%

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 976 shares, a growth of 1,218.9% from the September 15th total of 74 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 31,772 shares, the short-interest ratio is presently 0.0 days.

CochLear Trading Down 0.4%

Shares of CochLear stock traded down $0.18 during midday trading on Friday, hitting $44.64. 8,991 shares of the company traded hands, compared to its average volume of 19,119. The firm’s fifty day moving average price is $47.57 and its 200-day moving average price is $44.78. CochLear has a 12 month low of $31.82 and a 12 month high of $98.49.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Royal Bank Of Canada lowered CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 target price on the stock. in a report on Thursday, July 16th. Zacks Research upgraded shares of CochLear from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group lowered CochLear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Canaccord Genuity Group cut CochLear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $117.00.

CochLear Company Profile

Cochlear Limited is an Australian medical technology company that develops, manufactures and supplies implantable hearing solutions for people with moderate to profound hearing loss. Its products are designed to help restore access to sound for individuals who may not benefit sufficiently from conventional hearing aids.

The company’s product portfolio includes cochlear implants, sound processors, bone-conduction hearing implants and related accessories and services. Cochlear also provides professional support, rehabilitation resources and connectivity solutions for recipients, hearing-health specialists and caregivers.

Founded in 1981 and headquartered in Sydney, Australia, Cochlear traces its origins to research led by Professor Graeme Clark, whose work contributed to the development of the world’s first multichannel cochlear implant.