CochLear (OTCMKTS:CHEOY) Hits New 12-Month Low - Here's What Happened

Key Points

• CochLear (OTCMKTS:CHEOY) hit a new 52-week low, trading as low as $33.14 (last $33.17) on Wednesday with about 85,315 shares changing hands.
• The stock is trading far below its recent trend levels, with a 50-day moving average of $59.95 and a 200-day moving average of $79.31.
• Analyst coverage is mixed—one Strong Buy, one Buy and three Hold—giving CochLear an average rating of "Moderate Buy" despite recent upgrades and a downgrade by UBS.

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $33.14 and last traded at $33.17, with a volume of 85315 shares changing hands. The stock had previously closed at $33.93.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CHEOY shares. Zacks Research upgraded shares of CochLear to a "hold" rating in a research report on Friday, April 17th. Royal Bank Of Canada upgraded shares of CochLear from a "hold" rating to a "moderate buy" rating in a research report on Monday, January 19th. 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 research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, CochLear has an average rating of "Moderate Buy".

CochLear Price Performance

The stock's 50-day moving average price is $59.95 and its 200 day moving average price is $79.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.