Envoy Medical (NASDAQ:COCH) Stock to Reverse Split on Monday, October 26th

Envoy Medical, Inc. (NASDAQ:COCH)’s stock is going to reverse split on the morning of Monday, October 26th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 25th.

Envoy Medical Stock Down 7.9%

COCH traded down $0.05 during trading hours on Thursday, hitting $0.60. The stock had a trading volume of 195,046 shares, compared to its average volume of 390,470. Envoy Medical has a 1 year low of $0.36 and a 1 year high of $0.95. The company’s fifty day simple moving average is $0.70 and its 200 day simple moving average is $0.69. The stock has a market cap of $46.00 million, a PE ratio of -0.78 and a beta of 1.97.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.05 million. As a group, equities analysts expect that Envoy Medical will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

COCH has been the subject of several analyst reports. Loop Capital set a $2.00 price objective on shares of Envoy Medical in a report on Monday, July 27th. Lake Street Capital began coverage on shares of Envoy Medical in a report on Tuesday, October 6th. They set a “buy” rating and a $2.50 target price on the stock. HC Wainwright restated a “buy” rating on shares of Envoy Medical in a research report on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a report on Monday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.17.

Hedge Funds Weigh In On Envoy Medical

A hedge fund recently bought a new position in Envoy Medical stock. DSG Capital Advisors LLC bought a new position in Envoy Medical, Inc. (NASDAQ:COCH) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned approximately 0.81% of Envoy Medical at the end of the most recent reporting period. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

About Envoy Medical

Envoy Medical, Inc is a medical device company focused on developing fully implanted hearing solutions for people with hearing loss. The company’s technology is designed to use the body’s natural anatomy to capture sound and deliver hearing signals without the need for externally worn components.

Its lead product is the Acclaim Fully Implanted Cochlear Implant, an investigational device intended for adults with sensorineural hearing loss who may benefit from cochlear implantation. Unlike conventional cochlear implants, the Acclaim system is designed to be fully implanted, including its sound-sensing component, with the goal of allowing users to hear without an external sound processor.