Second Sight Medical Products Inc (NASDAQ:EYES) shares traded up 6.9% on Friday . The stock traded as high as $1.90 and last traded at $1.85. 1,327,236 shares were traded during trading, an increase of 72% from the average session volume of 771,907 shares. The stock had previously closed at $1.73.
Several research analysts have weighed in on the stock. 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 report on Monday, February 5th. Zacks Investment Research upgraded shares of Second Sight Medical Products from a “sell” rating to a “hold” rating in a research report on Monday, January 8th.
The stock has a market cap of $105.09, a PE ratio of -3.49 and a beta of 3.46.
Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings results on Wednesday, March 7th. The medical device company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $3.10 million for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 333.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.24) earnings per share. sell-side analysts anticipate that Second Sight Medical Products Inc will post -0.58 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in EYES. Vanguard Group Inc. grew its position in shares of 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 valued at $1,062,000 after purchasing an additional 5,973 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Second Sight Medical Products during the fourth quarter valued at approximately $144,000. Virtu Financial LLC purchased a new position in shares of Second Sight Medical Products during the fourth quarter valued at approximately $759,000. Finally, HBK Sorce Advisory LLC lifted its stake in shares of Second Sight Medical Products by 278.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 94,635 shares of the medical device company’s stock valued at $181,000 after buying an additional 69,635 shares during the period. Institutional investors and hedge funds own 13.68% 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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