Envoy Medical (NASDAQ:COCH) Given New $9.50 Price Target at Ascendiant Capital Markets

Envoy Medical (NASDAQ:COCH) had its target price increased by analysts at Ascendiant Capital Markets from $9.25 to $9.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ target price points to a potential upside of 462.46% from the stock’s current price.

Envoy Medical Stock Up 1.4%

Shares of NASDAQ COCH opened at $1.69 on Tuesday. The firm has a market cap of $36.02 million, a PE ratio of -1.22 and a beta of 2.33. The company’s fifty day simple moving average is $1.44 and its 200 day simple moving average is $1.60. Envoy Medical has a 12-month low of $1.21 and a 12-month high of $3.99.

Envoy Medical (NASDAQ:COCH) last announced its quarterly earnings data on Friday, March 28th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.12). The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.07 million. On average, equities analysts predict that Envoy Medical will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On Envoy Medical

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of Envoy Medical in the 4th quarter worth $42,000. CIBC Private Wealth Group LLC acquired a new position in Envoy Medical during the fourth quarter worth $65,000. Lake Street Advisors Group LLC acquired a new position in Envoy Medical during the fourth quarter worth $65,000. DSG Capital Advisors LLC bought a new position in shares of Envoy Medical in the fourth quarter valued at $234,000. Finally, Arcus Capital Partners LLC bought a new position in shares of Envoy Medical in the first quarter valued at $244,000. 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.