Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Up 106.8% in June

Envoy Medical, Inc. (NASDAQ:COCH) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 30,600 shares, an increase of 106.8% from the May 31st total of 14,800 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 67,700 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Lake Street Capital upped their price objective on Envoy Medical from $3.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Ascendiant Capital Markets began coverage on Envoy Medical in a research note on Monday. They set a “buy” rating and a $8.50 price objective for the company.

Hedge Funds Weigh In On Envoy Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Weiss Asset Management LP acquired a new position in Envoy Medical during the 4th quarter worth about $37,000. Virtu Financial LLC bought a new position in shares of Envoy Medical in the first quarter worth about $55,000. Finally, WealthTrust Asset Management LLC acquired a new position in shares of Envoy Medical during the first quarter worth approximately $44,000. Institutional investors and hedge funds own 8.59% of the company’s stock.

Envoy Medical Price Performance

NASDAQ:COCH traded up $0.07 on Friday, reaching $2.36. The stock had a trading volume of 25,333 shares, compared to its average volume of 242,557. Envoy Medical has a 1-year low of $0.75 and a 1-year high of $11.72. The stock has a fifty day moving average price of $3.10 and a 200-day moving average price of $3.17.

Envoy Medical (NASDAQ:COCH) last announced its earnings results on Wednesday, May 15th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.13). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.08 million. On average, equities analysts anticipate that Envoy Medical will post -1.05 EPS for the current fiscal year.

Envoy Medical Company Profile

Envoy Medical, Inc, a hearing health company, provides medical technologies for the hearing loss spectrum. Its products include personal sound amplification devices; hearing aids; Esteem fully implanted active middle ear implants; auditory osseointegrated implants; and Acclaim cochlear implants. The company was formerly known as Envoy Medical Corporation and changed its name to Envoy Medical, Inc in September 2023.