Second Sight Medical Products (EYES) Trading Up 10.4%

Second Sight Medical Products Inc (NASDAQ:EYES) shares were up 10.4% during mid-day trading on Friday . The company traded as high as $1.08 and last traded at $1.06. Approximately 1,811,669 shares changed hands during mid-day trading, an increase of 356% from the average daily volume of 397,211 shares. The stock had previously closed at $0.96.

A number of research analysts have recently issued reports on EYES shares. Zacks Investment Research cut shares of Second Sight Medical Products from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. ValuEngine upgraded shares of Second Sight Medical Products from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Finally, HC Wainwright set a $5.00 target price on shares of Second Sight Medical Products and gave the company a “buy” rating in a research note on Thursday, November 8th.

The company has a market cap of $73.22 million, a PE ratio of -1.80 and a beta of 2.82.

Second Sight Medical Products (NASDAQ:EYES) last posted its earnings results on Wednesday, November 7th. The medical device company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $2.25 million during the quarter, compared to analysts’ expectations of $2.48 million. Second Sight Medical Products had a negative net margin of 408.41% and a negative return on equity of 638.26%. As a group, research analysts anticipate that Second Sight Medical Products Inc will post -0.52 earnings per share for the current year.

In related news, Director Gregg Williams purchased 31,750 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was acquired at an average price of $1.65 per share, with a total value of $52,387.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders purchased 2,717,847 shares of company stock valued at $4,439,196 and sold 25,417 shares valued at $35,089. Company insiders own 34.70% of the company’s stock.

A hedge fund recently bought a new stake in Second Sight Medical Products stock. B. Riley Wealth Management Inc. purchased a new stake in Second Sight Medical Products Inc (NASDAQ:EYES) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 53,500 shares of the medical device company’s stock, valued at approximately $102,000. B. Riley Wealth Management Inc. owned approximately 0.07% of Second Sight Medical Products at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.10% of the company’s stock.

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Second Sight Medical Products Company Profile (NASDAQ:EYES)

Second Sight Medical Products, Inc, together with its subsidiaries, develops, manufactures, and markets prosthetic devices to restore functional vision of blind individuals in the United States, Canada, Europe, the Middle East, and Asia. It offers Argus II System, which treats outer retinal degenerations, such as retinitis pigmentosa.

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