Envoy Medical (NASDAQ:COCH) Earns Buy Rating from Analysts at Ascendiant Capital Markets

Ascendiant Capital Markets initiated coverage on shares of Envoy Medical (NASDAQ:COCH) in a research report report published on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $8.50 target price on the stock.

Separately, Lake Street Capital boosted their target price on shares of Envoy Medical from $3.00 to $6.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd.

Envoy Medical Stock Up 6.5 %

NASDAQ COCH opened at $2.29 on Monday. The firm’s fifty day moving average price is $3.15 and its two-hundred day moving average price is $3.17. Envoy Medical has a fifty-two week low of $0.75 and a fifty-two week high of $11.72.

Envoy Medical (NASDAQ:COCH) last posted its earnings results on Wednesday, May 15th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.13). The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.08 million. As a group, sell-side analysts expect that Envoy Medical will post -1.05 earnings per share for the current year.

Institutional Trading of Envoy Medical

Several institutional investors have recently modified their holdings of the business. Weiss Asset Management LP bought a new stake in shares of Envoy Medical in the fourth quarter worth $37,000. Virtu Financial LLC bought a new stake in shares of Envoy Medical in the first quarter worth $55,000. Finally, WealthTrust Asset Management LLC bought a new stake in shares of Envoy Medical in the first quarter worth $44,000. Institutional investors own 8.59% of the company’s stock.

About Envoy Medical

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.