Second Sight Medical Products (EYES) Trading 5.8% Higher
Second Sight Medical Products Inc (NASDAQ:EYES) shares traded up 5.8% during mid-day trading on Tuesday . The company traded as high as $2.03 and last traded at $2.00. 733,774 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 569,059 shares. The stock had previously closed at $1.89.
A number of brokerages recently weighed in on EYES. Zacks Investment Research raised shares of Second Sight Medical Products from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. HC Wainwright set a $5.00 price target on shares of Second Sight Medical Products and gave the company a “buy” rating in a report on Tuesday, August 29th.
The stock has a market capitalization of $113.61, a price-to-earnings ratio of -2.99 and a beta of 3.67.
Second Sight Medical Products (NASDAQ:EYES) last issued its quarterly earnings results on Thursday, November 2nd. The medical device company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The business had revenue of $1.61 million during the quarter, compared to analyst estimates of $1.54 million. Second Sight Medical Products had a negative net margin of 565.12% and a negative return on equity of 184.87%. equities analysts predict that Second Sight Medical Products Inc will post -0.55 EPS for the current fiscal year.
An institutional investor recently raised its position in Second Sight Medical Products stock. Vanguard Group Inc. lifted its stake in Second Sight Medical Products Inc (NASDAQ:EYES) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 843,462 shares of the medical device company’s stock after purchasing an additional 5,973 shares during the period. Vanguard Group Inc. owned 1.50% of Second Sight Medical Products worth $1,062,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 12.70% of the company’s stock.
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About Second Sight Medical Products
Second Sight Medical Products, Inc is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight.
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