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

Envoy Medical, Inc. (NASDAQ:COCH) was the target of a large increase in short interest during the month of 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. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 22,000 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On Envoy Medical

Several large investors have recently modified their holdings of the business. Weiss Asset Management LP bought a new position in shares of Envoy Medical during the fourth quarter valued at $37,000. Virtu Financial LLC bought 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 shares of Envoy Medical during the first quarter valued at $44,000. Institutional investors own 8.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets increased their price objective on shares of Envoy Medical from $8.50 to $8.75 and gave the company a “buy” rating in a research note on Tuesday, September 3rd.

Envoy Medical Price Performance

NASDAQ:COCH traded down $0.11 on Tuesday, hitting $3.21. The company had a trading volume of 15,343 shares, compared to its average volume of 174,639. The firm has a 50 day moving average of $2.65 and a two-hundred day moving average of $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 released 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 firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.08 million. Research analysts predict that Envoy Medical will post -1.36 earnings per share for the current fiscal year.

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.