CochLear (OTCMKTS:CHEOY) Shares Gap Up – Time to Buy?

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) gapped up before the market opened on Wednesday . The stock had previously closed at $57.13, but opened at $60.72. CochLear shares last traded at $60.9150, with a volume of 7,780 shares.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada upgraded CochLear from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

CochLear Stock Up 3.3%

The stock has a 50 day simple moving average of $73.81 and a two-hundred day simple moving average of $85.03.

About CochLear

Cochlear Limited provides implantable hearing solutions for children and adults worldwide. It offers cochlear implant systems, sound processor upgrades, bone conduction systems, accessories, and other products. Cochlear Limited was founded in 1981 and is headquartered in Sydney, Australia.