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

Envoy Medical, Inc. (NASDAQ:COCH) saw a large increase in short interest in 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 currently 0.2 days. Approximately 0.7% of the company’s stock are sold short.

Institutional Trading of Envoy Medical

An institutional investor recently bought a new position in Envoy Medical stock. Virtu Financial LLC purchased a new stake in Envoy Medical, Inc. (NASDAQ:COCH) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,045 shares of the company’s stock, valued at approximately $55,000. Virtu Financial LLC owned about 0.07% of Envoy Medical at the end of the most recent reporting period. 8.59% of the stock is owned by institutional investors and hedge funds.

Envoy Medical Price Performance

Shares of Envoy Medical stock traded up $0.08 during trading on Tuesday, hitting $2.06. 31,076 shares of the stock were exchanged, compared to its average volume of 204,492. The firm’s 50-day moving average price is $2.76 and its 200 day moving average price is $2.67. Envoy Medical has a 12-month low of $0.78 and a 12-month high of $11.46.

Wall Street Analysts Forecast Growth

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

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.