CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Sees Significant Decline in Short Interest

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 7,816 shares, a decrease of 75.9% from the July 15th total of 32,429 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 78,247 shares, the days-to-cover ratio is presently 0.1 days.

CochLear Trading Up 1.1%

Shares of CHEOY opened at $46.98 on Friday. The stock has a fifty day moving average price of $41.18 and a two-hundred day moving average price of $52.34. CochLear has a 52-week low of $31.82 and a 52-week high of $104.65.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group downgraded CochLear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research upgraded CochLear from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. UBS Group cut CochLear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada lowered shares of CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price target on the stock. in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $117.00.

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.