CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Short Interest Up 79.0% in July

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 32,429 shares, a growth of 79.0% from the June 30th total of 18,115 shares. Based on an average daily trading volume, of 93,408 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

CHEOY has been the subject of several analyst reports. Royal Bank Of Canada downgraded shares of CochLear from an “outperform” rating to a “sector perform” rating and set a $117.00 price target for the company. in a report on Thursday, July 16th. Jefferies Financial Group downgraded shares of CochLear from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research raised shares of CochLear from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, UBS Group cut shares of CochLear from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, CochLear has a consensus rating of “Hold” and a consensus price target of $117.00.

CochLear Stock Performance

Shares of OTCMKTS CHEOY opened at $43.21 on Friday. The firm’s 50-day simple moving average is $39.31 and its 200 day simple moving average is $55.61. CochLear has a fifty-two week low of $31.82 and a fifty-two week high of $104.65.

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.