CochLear (OTCMKTS:CHEOY) Shares Gap Up - Here's What Happened

Key Points

• CochLear shares gapped up before the open, moving from a close of $33.84 to an open of $35.29 and last trading at $34.1175 on volume of 735 shares.
• Analysts are mixed: Zacks moved to a "hold," UBS cut from "strong-buy" to "hold," while RBC upgraded to "moderate buy," leaving an average rating of Moderate Buy (1 Strong Buy, 1 Buy, 3 Hold).
• The stock is trading well below its recent trend levels, with a 50-day moving average of $61.43 and a 200-day moving average of $80.14 versus the current ~$34 price.

CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $33.84, but opened at $35.29. CochLear shares last traded at $34.1175, with a volume of 735 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research raised CochLear to a "hold" rating in a research note on Friday, April 17th. UBS Group cut CochLear from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, Royal Bank Of Canada raised CochLear from a "hold" rating to a "moderate buy" rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, CochLear presently has an average rating of "Moderate Buy".

CochLear Stock Performance

The stock has a fifty day moving average price of $61.43 and a 200 day moving average price of $80.14.

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.

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