Cochlear Limited (OTCMKTS:CHEOY) Sees Large Growth in Short Interest

Cochlear Limited (OTCMKTS:CHEOY) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 800 shares, an increase of 60.0% from the September 15th total of 500 shares. Based on an average daily trading volume, of 7,600 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised Cochlear to a “hold” rating in a report on Friday, August 16th.

Cochlear Stock Up 2.9 %

Shares of CHEOY stock traded up $2.80 during trading on Friday, reaching $100.64. The company had a trading volume of 10,608 shares, compared to its average volume of 3,916. The firm’s 50 day simple moving average is $101.10 and its two-hundred day simple moving average is $105.55. Cochlear has a one year low of $76.12 and a one year high of $115.85.

Cochlear Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, September 18th will be issued a $0.1424 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This is a positive change from Cochlear’s previous dividend of $0.03.

Cochlear Company Profile

Cochlear Limited provides implantable hearing solutions for children and adults worldwide. It offers cochlear implant systems, sound processor upgrades, bone conduction systems, accessories, and other products. Cochlear Limited was founded in 1981 and is headquartered in Sydney, Australia.