Envoy Medical (NASDAQ:COCH) Trading Down 2.6% – Time to Sell?

Envoy Medical, Inc. (NASDAQ:COCH) shares traded down 2.6% during trading on Friday . The company traded as low as $0.6920 and last traded at $0.73. 136,289 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 207,792 shares. The stock had previously closed at $0.7494.

Analyst Ratings Changes

COCH has been the topic of several analyst reports. Wall Street Zen upgraded Envoy Medical to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.50.

Envoy Medical Trading Down 2.6%

The company has a market cap of $21.02 million, a price-to-earnings ratio of -0.52 and a beta of 2.09. The firm has a 50-day moving average price of $0.76 and a 200 day moving average price of $1.12.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.08). The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.05 million. Research analysts anticipate that Envoy Medical, Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COCH. NorthRock Partners LLC acquired a new stake in Envoy Medical during the second quarter worth about $14,612,000. CIBC Bancorp USA Inc. acquired a new position in Envoy Medical in the third quarter valued at approximately $60,000. Finally, Focus Partners Wealth acquired a new position in Envoy Medical in the first quarter valued at approximately $276,000. 8.59% of the stock is owned by institutional investors and hedge funds.

Envoy Medical Company Profile

Envoy Medical (NASDAQ:COCH) is a medical device company focused on non-invasive neuromodulation therapies for dysphagia, a swallowing disorder that affects patients following neurological events or due to degenerative conditions. The company’s lead technology delivers targeted electrical stimulation designed to strengthen the muscles and neural pathways involved in the swallowing process.

Envoy Medical’s flagship therapy has received regulatory clearance from the U.S. Food and Drug Administration and is being introduced through rehabilitation centers, speech-language pathology clinics and acute care hospitals.