CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Short Interest Update

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the recipient of a significant increase in short interest in the month of 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. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 31,231 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

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

CochLear Price Performance

CochLear stock opened at $47.15 on Friday. CochLear has a fifty-two week low of $31.82 and a fifty-two week high of $98.49. The firm has a fifty day moving average price of $45.80 and a two-hundred day moving average price of $46.41.

CochLear Company Profile

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.