Envoy Medical, Inc. (NASDAQ:COCH) Sees Large Growth in Short Interest

Envoy Medical, Inc. (NASDAQ:COCH) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 46,900 shares, an increase of 6.3% from the October 15th total of 44,100 shares. Based on an average daily trading volume, of 227,800 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.7% of the company’s stock are short sold.

Analyst Ratings Changes

Several research analysts have weighed in on COCH shares. Ascendiant Capital Markets boosted their price target on Envoy Medical from $8.50 to $8.75 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Brookline Capital Management began coverage on Envoy Medical in a report on Monday, October 14th. They set a “buy” rating and a $9.00 target price on the stock.

Envoy Medical Price Performance

COCH traded up $0.08 on Tuesday, reaching $2.06. The stock had a trading volume of 31,081 shares, compared to its average volume of 204,492. Envoy Medical has a fifty-two week low of $0.78 and a fifty-two week high of $11.46. The firm has a 50-day moving average of $2.76 and a 200-day moving average of $2.67.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Envoy Medical stock. Virtu Financial LLC acquired a new position in Envoy Medical, Inc. (NASDAQ:COCH) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,045 shares of the company’s stock, valued at approximately $55,000. Virtu Financial LLC owned approximately 0.07% of Envoy Medical at the end of the most recent quarter. Institutional investors and hedge funds own 8.59% of the company’s stock.

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.