CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Shares Shorted: Short Interest Down 99.5% in September

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 74 shares, a drop of 99.5% from the August 31st total of 15,269 shares. Based on an average trading volume of 48,753 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

CochLear Stock Performance

Shares of CHEOY stock opened at $49.90 on Friday. CochLear has a 12-month low of $31.82 and a 12-month high of $98.49. The firm has a 50 day moving average price of $46.51 and a two-hundred day moving average price of $45.85.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CHEOY. Royal Bank Of Canada lowered shares of CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price objective on the stock. in a research note on Thursday, July 16th. Canaccord Genuity Group downgraded shares of CochLear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Zacks Research upgraded CochLear from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group lowered 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, According to MarketBeat.com, CochLear presently has a consensus rating of “Hold” and an average target price of $117.00.

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.