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

Envoy Medical, Inc. (NASDAQ:COCH)’s stock is scheduled 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 market closes on Sunday, October 25th.

Envoy Medical Stock Down 7.9%

Shares of NASDAQ:COCH traded down $0.05 on Thursday, reaching $0.60. 195,046 shares of the company traded hands, compared to its average volume of 73,464. The business’s 50-day simple moving average is $0.70 and its 200 day simple moving average is $0.69. Envoy Medical has a 52 week low of $0.36 and a 52 week high of $0.95.

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 company had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.05 million. On average, equities analysts anticipate that Envoy Medical will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Envoy Medical in a research note on Monday. HC Wainwright reiterated a “buy” rating on shares of Envoy Medical in a research report on Tuesday, October 13th. Loop Capital set a $2.00 price objective on Envoy Medical in a research note on Monday, July 27th. Finally, Lake Street Capital started coverage on shares of Envoy Medical in a report on Tuesday, October 6th. They issued a “buy” rating and a $2.50 target price on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2.17.

Institutional Investors Weigh In On Envoy Medical

A hedge fund recently bought a new position in Envoy Medical stock. DSG Capital Advisors LLC bought a new stake in shares of Envoy Medical, Inc. (NASDAQ:COCH) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing. 8.59% of the stock is currently owned by hedge funds and other institutional investors.

Envoy Medical Company Profile

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.