Envoy Medical (NASDAQ:COCH) Now Covered by Lake Street Capital

Lake Street Capital initiated coverage on shares of Envoy Medical (NASDAQ:COCH) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $2.50 price target on the stock.

COCH has been the subject of several other research reports. HC Wainwright decreased their target price on Envoy Medical from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Loop Capital set a $2.00 price target on Envoy Medical in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Envoy Medical in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.17.

Envoy Medical Stock Performance

COCH opened at $0.65 on Tuesday. The company has a market capitalization of $50.27 million, a P/E ratio of -0.86 and a beta of 1.97. The company has a 50-day moving average of $0.71 and a 200-day moving average of $0.70. Envoy Medical has a 1-year low of $0.36 and a 1-year high of $1.89.

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

Institutional Trading of Envoy Medical

A hedge fund recently bought a new stake 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 disclosure with the Securities and Exchange Commission (SEC). The firm bought 625,000 shares of the company’s stock, valued at approximately $416,000. DSG Capital Advisors LLC owned 0.81% of Envoy Medical at the end of the most recent reporting period. Institutional investors and hedge funds own 8.59% of the company’s stock.

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.