Envoy Medical Shares to Reverse Split on Monday, October 26th (NASDAQ:COCH)

Envoy Medical, Inc. (NASDAQ:COCH)’s stock is set to reverse split on Monday, October 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 25th.

Envoy Medical Stock Down 7.9%

Shares of COCH stock traded down $0.05 on Thursday, reaching $0.60. The company’s stock had a trading volume of 195,046 shares, compared to its average volume of 390,470. Envoy Medical has a 12-month low of $0.36 and a 12-month high of $0.95. The company has a market capitalization of $46.00 million, a P/E ratio of -0.78 and a beta of 1.97. The stock’s 50 day simple moving average is $0.70 and its 200-day simple moving average is $0.69.

Envoy Medical (NASDAQ:COCH) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.05 million. Research analysts expect that Envoy Medical will post -0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating on shares of Envoy Medical in a research report on Tuesday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research report on Monday. Lake Street Capital started coverage on shares of Envoy Medical in a research note on Tuesday, October 6th. They issued a “buy” rating and a $2.50 target price on the stock. Finally, Loop Capital set a $2.00 target price on shares of Envoy Medical in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.17.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Envoy Medical stock. DSG Capital Advisors LLC acquired a new stake in shares of Envoy Medical, Inc. (NASDAQ:COCH) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned 0.81% of Envoy Medical at the end of the most recent quarter. 8.59% of the stock is owned by hedge funds and other institutional investors.

Envoy Medical Company Profile

Envoy Medical, Inc is a medical device company focused on developing fully implanted hearing solutions for people with hearing loss. The company’s technology is designed to use the body’s natural anatomy to capture sound and deliver hearing signals without the need for externally worn components.

Its lead product is the Acclaim Fully Implanted Cochlear Implant, an investigational device intended for adults with sensorineural hearing loss who may benefit from cochlear implantation. Unlike conventional cochlear implants, the Acclaim system is designed to be fully implanted, including its sound-sensing component, with the goal of allowing users to hear without an external sound processor.