Envoy Medical, Inc. (NASDAQ:COCH) Short Interest Update

Envoy Medical, Inc. (NASDAQ:COCH) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 355,300 shares, an increase of 657.6% from the October 31st total of 46,900 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 231,200 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On Envoy Medical

An institutional investor recently bought a new position in Envoy Medical stock. Virtu Financial LLC acquired a new stake in Envoy Medical, Inc. (NASDAQ:COCH) in the 1st quarter, according to its most recent disclosure 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 about 0.07% of Envoy Medical at the end of the most recent reporting period. Institutional investors and hedge funds own 8.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on COCH. 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 research report on Tuesday, September 3rd. Brookline Capital Management assumed coverage on Envoy Medical in a research report on Monday, October 14th. They issued a “buy” rating and a $9.00 price target for the company.

Envoy Medical Stock Performance

NASDAQ COCH traded down $0.01 during trading on Friday, hitting $2.28. 19,275 shares of the stock traded hands, compared to its average volume of 199,662. The firm has a 50-day simple moving average of $2.60 and a 200-day simple moving average of $2.61. Envoy Medical has a 12-month low of $1.08 and a 12-month high of $11.46.

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.