Envoy Medical (NASDAQ:COCH) Upgraded at Zacks Research

Envoy Medical (NASDAQ:COCH) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on COCH. Weiss Ratings reissued a “sell (e+)” rating on shares of Envoy Medical in a report on Tuesday, January 27th. HC Wainwright began coverage on shares of Envoy Medical in a report on Tuesday. They issued a “buy” rating and a $2.50 price objective on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.00.

Envoy Medical Price Performance

Envoy Medical stock opened at $0.75 on Wednesday. The company’s 50-day moving average is $0.68 and its 200-day moving average is $0.76. The firm has a market capitalization of $57.47 million, a PE ratio of -0.61 and a beta of 2.07. Envoy Medical has a fifty-two week low of $0.36 and a fifty-two week high of $1.91.

Envoy Medical (NASDAQ:COCH) last posted its quarterly earnings results on Monday, March 23rd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The company had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.03 million. As a group, analysts expect that Envoy Medical will post -1.21 EPS for the current year.

Insiders Place Their Bets

In other news, Director Susan Kantor acquired 96,150 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of $0.40 per share, with a total value of $38,460.00. Following the completion of the transaction, the director directly owned 174,037 shares of the company’s stock, valued at $69,614.80. This trade represents a 123.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mona Chetan Patel acquired 312,500 shares of Envoy Medical stock in a transaction on Thursday, February 12th. The shares were purchased at an average price of $0.40 per share, for a total transaction of $125,000.00. Following the completion of the purchase, the director directly owned 332,500 shares of the company’s stock, valued at approximately $133,000. This represents a 1,562.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 20,433,650 shares of company stock valued at $8,173,460 over the last 90 days. 5.70% of the stock is owned by company insiders.

Institutional Trading of Envoy Medical

Large investors have recently made changes to their positions in the company. Focus Partners Wealth bought a new position in Envoy Medical in the first quarter valued at approximately $276,000. CIBC Bancorp USA Inc. bought a new stake in Envoy Medical during the third quarter worth $60,000. Finally, Geode Capital Management LLC lifted its stake in Envoy Medical by 111.3% during the fourth quarter. Geode Capital Management LLC now owns 98,351 shares of the company’s stock worth $65,000 after purchasing an additional 51,813 shares during the last quarter. Institutional investors and hedge funds own 8.59% of the company’s stock.

Envoy Medical Company Profile

Envoy Medical (NASDAQ:COCH) is a medical device company focused on non-invasive neuromodulation therapies for dysphagia, a swallowing disorder that affects patients following neurological events or due to degenerative conditions. The company’s lead technology delivers targeted electrical stimulation designed to strengthen the muscles and neural pathways involved in the swallowing process.

Envoy Medical’s flagship therapy has received regulatory clearance from the U.S. Food and Drug Administration and is being introduced through rehabilitation centers, speech-language pathology clinics and acute care hospitals.