CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY) Short Interest Up 312.5% in July

Key Points

• CochLear Ltd. experienced a staggering 312.5% increase in short interest during July, rising from 800 shares on June 30th to 3,300 shares by July 15th.
• Despite this increase in short interest, CochLear's stock decreased by 1.8% to $100.79 during recent trading, with a small volume of 807 shares exchanged.
• In a positive outlook, UBS Group upgraded CochLear's rating from "hold" to "strong-buy", indicating expected growth for the company.

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY - Get Free Report) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 3,300 shares, anincreaseof312.5% from the June 30th total of 800 shares. Based on an average daily volume of 3,700 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 3,700 shares, the days-to-cover ratio is presently 0.9 days.

CochLear Stock Down 1.8%

CHEOY stock traded down $1.88 during trading hours on Friday, hitting $100.79. 807 shares of the stock were exchanged, compared to its average volume of 2,542. The company has a 50-day simple moving average of $95.27 and a two-hundred day simple moving average of $89.98. CochLear has a 12 month low of $74.76 and a 12 month high of $115.85.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded CochLear from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 18th.

CochLear Company Profile

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.

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