Second Sight Medical Products (EYES) Trading Up 6.9%

Second Sight Medical Products Inc (NASDAQ:EYES) shares were up 6.9% during mid-day trading on Friday . The company traded as high as $1.90 and last traded at $1.85. Approximately 1,327,236 shares changed hands during trading, an increase of 72% from the average daily volume of 771,907 shares. The stock had previously closed at $1.73.

A number of research analysts recently issued reports on EYES shares. Zacks Investment Research raised shares of Second Sight Medical Products from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. HC Wainwright set a $5.00 target price on shares of Second Sight Medical Products and gave the stock a “buy” rating in a report on Monday, February 5th.

The company has a market cap of $105.09, a price-to-earnings ratio of -3.49 and a beta of 3.46.

Second Sight Medical Products (NASDAQ:EYES) last issued its earnings results on Wednesday, March 7th. The medical device company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $1.98 million. Second Sight Medical Products had a negative net margin of 358.06% and a negative return on equity of 169.01%. The business’s revenue for the quarter was up 333.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) earnings per share. equities research analysts predict that Second Sight Medical Products Inc will post -0.58 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Sigma Planning Corp purchased a new position in Second Sight Medical Products in the fourth quarter worth about $144,000. HBK Sorce Advisory LLC raised its holdings in Second Sight Medical Products by 278.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 94,635 shares of the medical device company’s stock worth $181,000 after buying an additional 69,635 shares during the last quarter. Virtu Financial LLC purchased a new position in Second Sight Medical Products in the fourth quarter worth about $759,000. Finally, Vanguard Group Inc. raised its holdings in Second Sight Medical Products by 0.7% in the second quarter. Vanguard Group Inc. now owns 843,462 shares of the medical device company’s stock worth $1,062,000 after buying an additional 5,973 shares during the last quarter. 13.68% of the stock is owned by institutional investors and hedge funds.

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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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