Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Up 6.3% in October

Envoy Medical, Inc. (NASDAQ:COCH) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 46,900 shares, an increase of 6.3% from the October 15th total of 44,100 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 227,800 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Envoy Medical

A hedge fund recently bought a new stake in Envoy Medical stock. Virtu Financial LLC acquired a new stake in Envoy Medical, Inc. (NASDAQ:COCH) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,045 shares of the company’s stock, valued at approximately $55,000. Virtu Financial LLC owned approximately 0.07% of Envoy Medical at the end of the most recent quarter. Hedge funds and other institutional investors own 8.59% of the company’s stock.

Envoy Medical Stock Performance

NASDAQ COCH traded down $0.16 during trading on Monday, reaching $1.98. The company’s stock had a trading volume of 45,019 shares, compared to its average volume of 205,267. Envoy Medical has a 12 month low of $0.78 and a 12 month high of $11.46. The firm has a 50 day moving average price of $2.79 and a 200 day moving average price of $2.69.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Ascendiant Capital Markets increased their price target on shares of Envoy Medical from $8.50 to $8.75 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Brookline Capital Management initiated coverage on shares of Envoy Medical in a report on Monday, October 14th. They set a “buy” rating and a $9.00 price objective on the stock.

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.