Envoy Medical, Inc. (NASDAQ:COCH) Stock Short Interest Falls 84.4%

Envoy Medical, Inc. (NASDAQ:COCH) was the target of a significant decrease in short interest during the month of October. As of October 30th, there was short interest totaling 89,915 shares, a decrease of 84.4% from the October 15th total of 577,087 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 33,639 shares, the short-interest ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Envoy Medical in a research note on Monday. Loop Capital set a $20.00 target price on shares of Envoy Medical in a report on Monday, July 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research note on Monday, October 19th. Finally, Lake Street Capital upped their price objective on Envoy Medical from $2.50 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.00.

Envoy Medical Stock Down 1.0%

Shares of Envoy Medical stock traded down $0.07 during trading on Friday, reaching $6.74. The company’s stock had a trading volume of 10,022 shares, compared to its average volume of 39,136. Envoy Medical has a 12-month low of $3.63 and a 12-month high of $9.54. The company has a market capitalization of $52.03 million, a P/E ratio of -1.47 and a beta of 2.03. The business has a 50 day moving average price of $6.81 and a 200-day moving average price of $6.88.

Envoy Medical (NASDAQ:COCH) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.17. The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Envoy Medical had a negative net margin of 9,026.41% and a negative return on equity of 5,250.23%. Research analysts predict that Envoy Medical will post -2.61 EPS for the current fiscal year.

Envoy Medical Company Profile

Envoy Medical is a medical technology company focused on developing fully implanted hearing devices for people with sensorineural hearing loss. Unlike conventional hearing aids and many cochlear implants, its technology is designed to be placed beneath the skin, with no external wearable sound processor. The company’s lead product is the Acclaim Cochlear Implant, a fully implanted cochlear implant intended to address moderate-to-profound sensorineural hearing loss in adults. The system is designed to use the body’s natural anatomy to capture sound and convert it into electrical signals that stimulate the auditory nerve.