Envoy Medical (NASDAQ:COCH) Stock Price Up 3.8% – Here’s Why

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

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets upped their price objective on shares of 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 Stock Performance

The firm has a 50-day simple moving average of $1.51 and a 200 day simple moving average of $2.24.

Hedge Funds Weigh In On Envoy Medical

Institutional investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in Envoy Medical during the 4th quarter worth $42,000. CIBC Private Wealth Group LLC acquired a new position in Envoy Medical in the fourth quarter valued at $65,000. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Envoy Medical in the fourth quarter valued at about $65,000. 8.59% of the stock is owned by institutional investors and hedge funds.

About Envoy Medical

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.