Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Up 16.2% in July

Envoy Medical, Inc. (NASDAQ:COCH) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 25,100 shares, an increase of 16.2% from the July 15th total of 21,600 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 25,900 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On Envoy Medical

A number of hedge funds have recently made changes to their positions in COCH. Weiss Asset Management LP acquired a new stake in Envoy Medical in the 4th quarter valued at approximately $37,000. Virtu Financial LLC acquired a new position in shares of Envoy Medical during the first quarter valued at $55,000. Finally, WealthTrust Asset Management LLC bought a new position in Envoy Medical in the 1st quarter valued at about $44,000. Institutional investors own 8.59% of the company’s stock.

Envoy Medical Stock Performance

COCH stock traded up $0.02 during midday trading on Friday, reaching $2.61. The company had a trading volume of 20,097 shares, compared to its average volume of 194,614. The stock has a 50 day moving average price of $2.35 and a 200 day moving average price of $3.32. Envoy Medical has a fifty-two week low of $0.75 and a fifty-two week high of $11.72.

Envoy Medical (NASDAQ:COCH) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.08 million. As a group, analysts anticipate that Envoy Medical will post -1.05 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets assumed coverage on shares of Envoy Medical in a report on Monday, June 24th. They issued a “buy” rating and a $8.50 price objective for the company.

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.