Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Up 5.9% in August

Envoy Medical, Inc. (NASDAQ:COCH) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 23,500 shares, a growth of 5.9% from the August 15th total of 22,200 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 22,000 shares, the days-to-cover ratio is presently 1.1 days.

Envoy Medical Stock Down 3.1 %

Shares of Envoy Medical stock traded down $0.10 on Wednesday, reaching $3.11. The company’s stock had a trading volume of 4,018 shares, compared to its average volume of 173,691. The firm’s fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $3.54. Envoy Medical has a 52 week low of $0.75 and a 52 week high of $11.72.

Envoy Medical (NASDAQ:COCH) last posted its earnings results on Monday, August 12th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.08 million. Equities analysts predict that Envoy Medical will post -1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lifted their target price on Envoy Medical from $8.50 to $8.75 and gave the stock a “buy” rating in a report on Tuesday, September 3rd.

Institutional Trading of Envoy Medical

Large investors have recently modified their holdings of the company. Weiss Asset Management LP bought a new stake in shares of Envoy Medical in the fourth quarter worth $37,000. WealthTrust Asset Management LLC bought a new stake in shares of Envoy Medical in the first quarter worth $44,000. Finally, Virtu Financial LLC bought a new stake in shares of Envoy Medical in the first quarter worth $55,000. Institutional investors own 8.59% of the company’s stock.

Envoy Medical Company Profile

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.