Envoy Medical (NASDAQ:COCH) Stock Price Up 3.8% – Still a Buy?

Envoy Medical, Inc. (NASDAQ:COCH) was up 3.8% on Friday . The stock traded as high as $1.38 and last traded at $1.37. Approximately 11,129 shares changed hands during trading, a decline of 63% from the average daily volume of 29,911 shares. The stock had previously closed at $1.32.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets lifted their price objective on Envoy Medical from $8.75 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

Envoy Medical Price Performance

The stock’s 50-day simple moving average is $1.51 and its 200 day simple moving average is $2.24.

Hedge Funds Weigh In On Envoy Medical

Large investors have recently bought and sold shares of the business. Lake Street Advisors Group LLC purchased a new stake in Envoy Medical during the 4th quarter worth about $65,000. Citadel Advisors LLC acquired a new stake in shares of Envoy Medical during the 4th quarter worth about $42,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Envoy Medical during the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 8.59% of the company’s stock.

Envoy Medical Company Profile

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.