CochLear (OTCMKTS:CHEOY) Shares Up 0.9% - Here's Why

Key Points

• Cochlear Ltd.'s stock price increased by 0.9% during trading, rising to $98.81 from a previous close of $97.97.
• UBS Group upgraded Cochlear to a "strong-buy" rating, contributing to the stock's current average rating of "Moderate Buy" from investment analysts.
• The company specializes in implantable hearing solutions and has shown significant trading volume with 9,253 shares changing hands, marking a 459% increase from its average daily volume.

Shares of CochLear Ltd. Unsponsored ADR (OTCMKTS:CHEOY - Get Free Report) traded up 0.9% during mid-day trading on Tuesday . The stock traded as high as $99.27 and last traded at $98.81. 9,253 shares were traded during mid-day trading, an increase of 459% from the average session volume of 1,655 shares. The stock had previously closed at $97.97.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of CochLear to a "hold" rating in a research note on Monday, August 11th. UBS Group upgraded shares of CochLear from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, CochLear currently has a consensus rating of "Moderate Buy".

CochLear Stock Performance

The firm's 50 day moving average price is $99.54 and its two-hundred day moving average price is $90.30.

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.