Envoy Medical (NASDAQ:COCH) Announces Earnings Results

Envoy Medical (NASDAQ:COCH) announced its earnings results on Monday. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04), Zacks reports.

Envoy Medical Stock Up 1.1%

Shares of Envoy Medical stock traded up $0.01 during trading on Monday, reaching $0.71. The company’s stock had a trading volume of 93,933 shares, compared to its average volume of 925,813. The business has a 50 day moving average price of $0.98 and a 200-day moving average price of $1.31. Envoy Medical has a 12-month low of $0.69 and a 12-month high of $2.32. The company has a market capitalization of $18.23 million, a P/E ratio of -0.50 and a beta of 2.09.

Hedge Funds Weigh In On Envoy Medical

A hedge fund recently bought a new stake in Envoy Medical stock. Focus Partners Wealth purchased a new stake in Envoy Medical, Inc. (NASDAQ:COCH) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 212,655 shares of the company’s stock, valued at approximately $276,000. Focus Partners Wealth owned approximately 1.00% of Envoy Medical as of its most recent SEC filing. 8.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COCH has been the topic of several recent research reports. Wall Street Zen upgraded Envoy Medical to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Envoy Medical in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.50.

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.