Envoy Medical (NASDAQ:COCH) Shares Down 3.1% – Should You Sell?

Envoy Medical, Inc. (NASDAQ:COCH)’s share price fell 3.1% during trading on Thursday . The stock traded as low as $1.56 and last traded at $1.56. 9,962 shares were traded during mid-day trading, a decline of 67% from the average session volume of 29,811 shares. The stock had previously closed at $1.61.

Analyst Ratings Changes

Several research firms have commented on COCH. Brookline Capital Management started coverage on Envoy Medical in a report on Monday, October 14th. They issued a “buy” rating and a $9.00 price target for the company. Ascendiant Capital Markets increased their price target on shares of Envoy Medical from $8.75 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 6th.

Envoy Medical Price Performance

The firm’s 50-day simple moving average is $1.68 and its two-hundred day simple moving average is $2.32.

Institutional Investors Weigh In On Envoy Medical

A hedge fund recently bought a new stake in Envoy Medical stock. Lake Street Advisors Group LLC acquired a new position in shares of Envoy Medical, Inc. (NASDAQ:COCH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 45,455 shares of the company’s stock, valued at approximately $65,000. Lake Street Advisors Group LLC owned 0.22% of Envoy Medical as of its most recent SEC filing. Institutional investors own 8.59% of the company’s stock.

About Envoy Medical

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.