Envoy Medical (NASDAQ:COCH) PT Raised to $8.75 at Ascendiant Capital Markets

Envoy Medical (NASDAQ:COCH) had its price target boosted by investment analysts at Ascendiant Capital Markets from $8.50 to $8.75 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target indicates a potential upside of 176.03% from the stock’s previous close.

Envoy Medical Stock Down 4.8 %

NASDAQ COCH opened at $3.17 on Tuesday. The stock’s 50-day moving average price is $2.47 and its 200-day moving average price is $3.48. Envoy Medical has a 52 week low of $0.75 and a 52 week high of $11.72.

Envoy Medical (NASDAQ:COCH) last released its earnings results on Monday, August 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.08 million. On average, research analysts anticipate that Envoy Medical will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Envoy Medical

Institutional investors have recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new position in shares of Envoy Medical in the 4th quarter worth approximately $37,000. Virtu Financial LLC purchased a new position in shares of Envoy Medical in the 1st quarter worth approximately $55,000. Finally, WealthTrust Asset Management LLC purchased a new position in shares of Envoy Medical in the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 8.59% of the company’s stock.

Envoy Medical Company Profile

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.