CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Shares Shorted: Short Interest Down 99.5% in September

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 74 shares, a drop of 99.5% from the August 31st total of 15,269 shares. Based on an average trading volume of 48,753 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Analyst Ratings Changes

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

CochLear Stock Performance

Shares of CochLear stock traded up $0.72 during midday trading on Thursday, hitting $49.79. The company had a trading volume of 31,528 shares, compared to its average volume of 52,155. The company has a fifty day simple moving average of $46.35 and a 200 day simple moving average of $45.83. CochLear has a 12-month low of $31.82 and a 12-month high of $98.49.

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.