Second Sight Medical Products, Inc. (EYES) Sees Large Volume Increase

Second Sight Medical Products, Inc. (NASDAQ:EYES) saw unusually-strong trading volume on Monday . Approximately 3,198,552 shares traded hands during trading, an increase of 882% from the previous session’s volume of 325,700 shares.The stock last traded at $1.27 and had previously closed at $1.09.

Several equities research analysts recently weighed in on EYES shares. HC Wainwright set a $5.00 target price on shares of Second Sight Medical Products and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Second Sight Medical Products from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th.

The firm’s market cap is $72.13 million. The firm has a 50 day moving average of $1.11 and a 200 day moving average of $1.22.

Second Sight Medical Products (NASDAQ:EYES) last announced its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $2.24 million for the quarter, compared to analysts’ expectations of $1.43 million. Second Sight Medical Products had a negative net margin of 646.89% and a negative return on equity of 168.49%. Second Sight Medical Products’s revenue was up 124.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, analysts predict that Second Sight Medical Products, Inc. will post ($0.55) earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Second Sight Medical Products by 0.7% during the second quarter. Vanguard Group Inc. now owns 843,462 shares of the medical device company’s stock valued at $1,062,000 after purchasing an additional 5,973 shares during the period. Van Den Berg Management I Inc. raised its stake in shares of Second Sight Medical Products by 27.2% during the first quarter. Van Den Berg Management I Inc. now owns 243,679 shares of the medical device company’s stock valued at $295,000 after purchasing an additional 52,102 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Second Sight Medical Products by 980,566.2% during the first quarter. BNP Paribas Arbitrage SA now owns 696,273 shares of the medical device company’s stock valued at $258,000 after purchasing an additional 696,202 shares during the period. Institutional investors own 13.07% of the company’s stock.

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Second Sight Medical Products Company Profile

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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