Envoy Medical (NASDAQ:COCH) Trading Down 0.3% – Here’s Why

Envoy Medical, Inc. (NASDAQ:COCH)’s stock price fell 0.3% during trading on Monday . The stock traded as low as $0.4585 and last traded at $0.4701. 196,708 shares traded hands during trading, an increase of 31% from the average session volume of 150,372 shares. The stock had previously closed at $0.4715.

Analysts Set New Price Targets

Several analysts recently issued reports on COCH shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. Wall Street Zen raised Envoy Medical to a “sell” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

Envoy Medical Stock Down 0.3%

The firm has a market capitalization of $13.53 million, a price-to-earnings ratio of -0.33 and a beta of 2.10. The company has a 50-day moving average price of $0.70 and a 200-day moving average price of $0.93.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COCH. CIBC Bancorp USA Inc. acquired a new stake in Envoy Medical in the third quarter worth about $60,000. Geode Capital Management LLC increased its stake in Envoy Medical by 111.3% during the 4th quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock valued at $65,000 after buying an additional 51,813 shares during the period. Focus Partners Wealth bought a new stake in shares of Envoy Medical during the 1st quarter worth about $276,000. Finally, NorthRock Partners LLC acquired a new stake in shares of Envoy Medical in the 2nd quarter worth approximately $14,612,000. 8.59% of the stock is owned by institutional investors and hedge funds.

About Envoy Medical

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.