CochLear (OTCMKTS:CHEOY) Shares Gap Down - Should You Sell?

Key Points

• Shares of CochLear gapped down, falling from a prior close of $59.77 to an open of $36.50 and last trading around $36.00 on a volume of 6,916 shares.
• Analyst sentiment is positive with a consensus "Buy" (two Strong Buy, one Buy, two Hold); Royal Bank of Canada upgraded to "moderate buy" on Jan. 19 and Zacks raised its rating to "hold" on Apr. 17.
• The stock is trading well below its technicals—50‑day SMA $64.28 and 200‑day SMA $81.40—and Cochlear is a Sydney‑based maker of implantable hearing solutions and related products.

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $59.77, but opened at $36.50. CochLear shares last traded at $36.00, with a volume of 6,916 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada raised shares of CochLear from a "hold" rating to a "moderate buy" rating in a report on Monday, January 19th. Zacks Research raised shares of CochLear to a "hold" rating in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

CochLear Stock Performance

The firm's 50 day simple moving average is $64.28 and its 200 day simple moving average is $81.40.

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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