CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Short Interest Up 55.5% in August

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 15,269 shares, an increase of 55.5% from the August 15th total of 9,817 shares. Based on an average trading volume of 31,231 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

CHEOY has been the subject of several analyst reports. Zacks Research raised CochLear from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Canaccord Genuity Group downgraded CochLear from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Royal Bank Of Canada lowered CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price target for the company. in a research report on Thursday, July 16th. Finally, Jefferies Financial Group cut CochLear from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.00.

CochLear Stock Performance

OTCMKTS:CHEOY remained flat at $48.59 on Friday. 20,029 shares of the company’s stock traded hands, compared to its average volume of 23,377. CochLear has a 52-week low of $31.82 and a 52-week high of $101.09. The firm’s 50-day simple moving average is $45.71 and its two-hundred day simple moving average is $46.41.

About CochLear

Cochlear Limited is an Australian medical device company that develops, manufactures and supplies implantable hearing solutions. Its products are designed for people with severe to profound hearing loss who may not receive sufficient benefit from conventional hearing aids.

The company’s portfolio includes cochlear implants, bone conduction hearing implants, and related sound processors, accessories, software and support services. Cochlear also provides rehabilitation resources, clinical support and ongoing product services intended to help recipients use and maintain their hearing systems.

Founded in 1981 and headquartered in Sydney, Australia, Cochlear serves customers through a global network spanning Australia, New Zealand, North America, Europe, Asia and other international markets.