CochLear (OTCMKTS:CHEOY) Shares Gap Down – Should You Sell?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $88.61, but opened at $85.95. CochLear shares last traded at $85.95, with a volume of 306 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citigroup lowered shares of CochLear to a “neutral” rating in a research report on Thursday, September 18th. Canaccord Genuity Group raised CochLear from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Zacks Research raised CochLear to a “hold” rating in a research note on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

CochLear Stock Performance

The firm’s 50 day simple moving average is $93.86 and its 200-day simple moving average is $94.64.

CochLear Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, October 28th. Investors of record on Monday, September 22nd were given 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.