Envoy Medical (NASDAQ:COCH) Trading Down 0.8% – What’s Next?

Envoy Medical, Inc. (NASDAQ:COCH) shares traded down 0.8% during trading on Monday . The company traded as low as $0.69 and last traded at $0.70. 140,703 shares changed hands during trading, an increase of 22% from the average session volume of 115,302 shares. The stock had previously closed at $0.7055.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Envoy Medical to a “hold” rating in a research note on Wednesday, April 1st. HC Wainwright assumed coverage on shares of Envoy Medical in a research note on Tuesday, March 31st. They set a “buy” rating and a $2.50 price target for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Envoy Medical has an average rating of “Hold” and a consensus target price of $2.50.

Envoy Medical Stock Down 0.8%

The firm has a market cap of $53.82 million, a price-to-earnings ratio of -0.69 and a beta of 1.90. The business’s fifty day moving average is $0.69 and its two-hundred day moving average is $0.70.

Envoy Medical (NASDAQ:COCH) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.10 million. Research analysts forecast that Envoy Medical, Inc. will post -0.3 EPS for the current year.

Institutional Trading of Envoy Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. acquired a new stake in shares of Envoy Medical in the third quarter valued at approximately $60,000. Geode Capital Management LLC increased its holdings in shares of Envoy Medical by 111.3% in the fourth quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock valued at $65,000 after purchasing an additional 51,813 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Envoy Medical in the first quarter valued at approximately $276,000. Finally, DSG Capital Advisors LLC acquired a new stake in shares of Envoy Medical in the first quarter valued at approximately $416,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

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.