CochLear (OTCMKTS:CHEOY) Shares Gap Down – What’s Next?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $94.10, but opened at $88.60. CochLear shares last traded at $88.60, with a volume of 1,795 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CHEOY. Zacks Research upgraded CochLear to a “hold” rating in a report on Monday, August 11th. Citigroup lowered shares of CochLear to a “neutral” rating in a research report on Thursday, September 18th. Finally, Canaccord Genuity Group upgraded shares of CochLear from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

CochLear Stock Down 4.3%

The business’s fifty day simple moving average is $94.88 and its two-hundred day simple moving average is $94.60.

CochLear Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, October 28th. Investors of record on Monday, September 22nd were paid a dividend of $0.1045 per share. This represents a yield of 122.0%. The ex-dividend date of this dividend was Friday, September 19th.

About CochLear

Cochlear Limited provides implantable hearing solutions for children and adults worldwide. It offers cochlear implant systems, sound processor upgrades, bone conduction systems, accessories, and other products. Cochlear Limited was founded in 1981 and is headquartered in Sydney, Australia.