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

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

Analysts Set New Price Targets

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

Envoy Medical Trading Up 4.0 %

Shares of COCH stock traded up $0.08 on Tuesday, reaching $2.06. 31,076 shares of the stock were exchanged, compared to its average volume of 204,492. The firm has a 50 day moving average of $2.76 and a two-hundred day moving average of $2.67. Envoy Medical has a 1-year low of $0.78 and a 1-year high of $11.46.

Hedge Funds Weigh In On Envoy Medical

A hedge fund recently bought a new stake in Envoy Medical stock. Virtu Financial LLC bought a new position in shares of Envoy Medical, Inc. (NASDAQ:COCH) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,045 shares of the company’s stock, valued at approximately $55,000. Virtu Financial LLC owned approximately 0.07% of Envoy Medical as of its most recent filing with the Securities and Exchange Commission. 8.59% of the stock is currently owned by institutional investors and hedge funds.

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.