Envoy Medical, Inc. (NASDAQ:COCH) Sees Significant Growth in Short Interest

Envoy Medical, Inc. (NASDAQ:COCH) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 23,500 shares, an increase of 5.9% from the August 15th total of 22,200 shares. Based on an average daily volume of 22,000 shares, the short-interest ratio is presently 1.1 days. Currently, 0.4% of the shares of the company are short sold.

Envoy Medical Stock Performance

Shares of NASDAQ:COCH traded down $0.11 on Tuesday, reaching $3.21. 15,343 shares of the company’s stock were exchanged, compared to its average volume of 174,639. The company has a fifty day moving average of $2.65 and a 200-day moving average of $3.54. Envoy Medical has a twelve month low of $0.75 and a twelve month high of $11.72.

Envoy Medical (NASDAQ:COCH) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.27) earnings per share (EPS) 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. Equities research analysts predict that Envoy Medical will post -1.36 earnings per share for the current year.

Institutional Trading of Envoy Medical

Several large investors have recently made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in shares of Envoy Medical during the 4th quarter worth approximately $37,000. Virtu Financial LLC acquired a new stake in shares of Envoy Medical during the 1st quarter worth approximately $55,000. Finally, WealthTrust Asset Management LLC acquired a new stake in shares of Envoy Medical during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets increased their target price 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.

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.