Envoy Medical (NASDAQ:COCH) Now Covered by Ascendiant Capital Markets

Investment analysts at Ascendiant Capital Markets started coverage on shares of Envoy Medical (NASDAQ:COCH) in a report released on Monday, Briefing.com reports. The firm set a “buy” rating and a $8.50 price target on the stock. Ascendiant Capital Markets’ target price suggests a potential upside of 271.18% from the company’s previous close.

Separately, Lake Street Capital increased their price target on shares of Envoy Medical from $3.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd.

Envoy Medical Stock Down 4.6 %

NASDAQ COCH opened at $2.29 on Monday. Envoy Medical has a 52 week low of $0.75 and a 52 week high of $11.72. The firm’s 50-day simple moving average is $3.43 and its two-hundred day simple moving average is $3.18.

Envoy Medical (NASDAQ:COCH) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.13). The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.08 million. As a group, research analysts forecast that Envoy Medical will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Envoy Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. WealthTrust Asset Management LLC purchased a new stake in shares of Envoy Medical in the first quarter worth about $44,000. Virtu Financial LLC bought a new position in shares of Envoy Medical in the first quarter worth approximately $55,000. Finally, Weiss Asset Management LP bought a new position in shares of Envoy Medical in the fourth quarter worth approximately $37,000. 8.59% of the stock is owned by hedge funds and other institutional investors.

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.