Lake Street Capital Issues Positive Forecast for Envoy Medical (NASDAQ:COCH) Stock Price

Envoy Medical (NASDAQ:COCH) had its price objective boosted by stock analysts at Lake Street Capital from $2.50 to $25.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital‘s price objective would indicate a potential upside of 271.09% from the company’s current price.

Other analysts also recently issued reports about the company. Loop Capital set a $20.00 price target on Envoy Medical in a research report on Monday, July 27th. HC Wainwright reaffirmed a “buy” rating on shares of Envoy Medical in a research note on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a research note on Monday, October 19th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.67.

Envoy Medical Trading Up 3.6%

COCH stock traded up $0.24 during midday trading on Tuesday, reaching $6.74. 36,010 shares of the company’s stock traded hands, compared to its average volume of 39,205. Envoy Medical has a 52-week low of $3.63 and a 52-week high of $9.54. The stock has a market cap of $520.03 million, a P/E ratio of -8.74 and a beta of 1.97. The stock’s 50-day moving average is $6.93 and its 200 day moving average is $6.88.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.10. The firm had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.05 million. As a group, research analysts expect that Envoy Medical will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Envoy Medical stock. DSG Capital Advisors LLC acquired a new stake in Envoy Medical, Inc. (NASDAQ:COCH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned about 0.81% of Envoy Medical at the end of the most recent reporting period. 8.59% of the stock is currently owned by institutional investors and hedge funds.

About Envoy Medical

Envoy Medical is a medical technology company focused on developing fully implanted hearing devices for people with sensorineural hearing loss. Unlike conventional hearing aids and many cochlear implants, its technology is designed to be placed beneath the skin, with no external wearable sound processor.

The company’s lead product is the Acclaim Cochlear Implant, a fully implanted cochlear implant intended to address moderate-to-profound sensorineural hearing loss in adults. The system is designed to use the body’s natural anatomy to capture sound and convert it into electrical signals that stimulate the auditory nerve.