CochLear (OTCMKTS:CHEOY) Hits New 52-Week Low - Time to Sell?

Key Points

• CochLear Ltd. has hit a new 52-week low, trading at $3.91, significantly down from a previous close of $92.43, with a volume of over 37 million shares traded.
• Despite recent price declines, analysts from UBS and Canaccord Genuity have upgraded their ratings on CochLear to "strong-buy." However, Citigroup has rated it as "neutral," leading to an overall average rating of "Moderate Buy."
• The company announced a dividend of $0.1045, payable on October 28th, which represents an impressive yield of 122.0%, indicating a strong commitment to returning value to shareholders.

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $3.91 and last traded at $3.91, with a volume of 37258591 shares changing hands. The stock had previously closed at $92.43.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group raised CochLear from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. Zacks Research raised CochLear to a "hold" rating in a research report on Monday, August 11th. Canaccord Genuity Group raised CochLear from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. Finally, Citigroup lowered CochLear to a "neutral" rating in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, CochLear presently has an average rating of "Moderate Buy".

CochLear Trading Down 1.4%

The business has a 50-day simple moving average of $97.60 and a 200 day simple moving average of $92.78.

CochLear Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 22nd will be given a $0.1045 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a dividend yield of 122.0%.

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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