Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Update

Envoy Medical, Inc. (NASDAQ:COCH) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 58,000 shares, an increase of 112.5% from the September 15th total of 27,300 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 29,300 shares, the short-interest ratio is currently 2.0 days.

Institutional Investors Weigh In On Envoy Medical

An institutional investor recently bought a new position in Envoy Medical stock. WealthTrust Asset Management LLC purchased a new stake in Envoy Medical, Inc. (NASDAQ:COCH) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,316 shares of the company’s stock, valued at approximately $44,000. WealthTrust Asset Management LLC owned about 0.06% of Envoy Medical as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 8.59% of the company’s stock.

Envoy Medical Price Performance

Shares of NASDAQ COCH traded down $0.11 during mid-day trading on Friday, hitting $2.69. The company had a trading volume of 25,776 shares, compared to its average volume of 162,952. Envoy Medical has a one year low of $0.75 and a one year high of $11.46. The firm has a 50-day simple moving average of $2.98 and a two-hundred day simple moving average of $3.21.

Envoy Medical (NASDAQ:COCH) last released its earnings results 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 company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.08 million. As a group, sell-side analysts predict that Envoy Medical will post -1.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets upped their target price 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.

About Envoy Medical

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.