CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Short Interest Up 55.5% in August

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 15,269 shares, a growth of 55.5% from the August 15th total of 9,817 shares. Based on an average trading volume of 31,231 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the stock are sold short.

CochLear Stock Performance

OTCMKTS CHEOY opened at $48.27 on Thursday. The stock’s 50 day simple moving average is $45.60 and its 200-day simple moving average is $46.56. CochLear has a 1-year low of $31.82 and a 1-year high of $102.63.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada cut shares of CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price objective for the company. in a research report on Thursday, July 16th. Jefferies Financial Group lowered shares of CochLear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of CochLear from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Canaccord Genuity Group cut shares of CochLear from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.00.

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.