Envoy Medical (NASDAQ:COCH) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Envoy Medical (NASDAQ:COCH) announced its earnings results on Monday. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03), Zacks reports. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.08 million.

Envoy Medical Stock Up 7.0 %

NASDAQ:COCH traded up $0.18 during trading hours on Wednesday, reaching $2.76. 28,817 shares of the company’s stock were exchanged, compared to its average volume of 196,908. Envoy Medical has a 1-year low of $0.75 and a 1-year high of $11.72. The company has a 50-day moving average of $2.33 and a 200 day moving average of $3.31.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets initiated coverage on shares of Envoy Medical in a research note on Monday, June 24th. They issued a “buy” rating and a $8.50 price objective for the company.

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.