Second Sight Medical Products, Inc. (EYES) Trading Up -5.6%

Second Sight Medical Products, Inc. (NASDAQ:EYES) shares were up 5.6% on Tuesday . The stock traded as high as $1.44 and last traded at $1.20. Approximately 757,971 shares traded hands during mid-day trading, an increase of 133% from the average daily volume of 325,700 shares. The stock had previously closed at $1.27.

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

The firm has a 50-day moving average of $1.11 and a 200-day moving average of $1.21. The firm’s market cap is $69.29 million.

Second Sight Medical Products (NASDAQ:EYES) last posted its earnings results on Tuesday, August 1st. The medical device company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. The business had revenue of $2.24 million during the quarter, compared to analyst estimates of $1.43 million. Second Sight Medical Products had a negative return on equity of 168.49% and a negative net margin of 646.89%. The company’s quarterly revenue was up 124.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. Equities analysts expect that Second Sight Medical Products, Inc. will post ($0.55) EPS for the current year.

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Second Sight Medical Products by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 843,462 shares of the medical device company’s stock worth $1,062,000 after purchasing an additional 5,973 shares in the last quarter. Van Den Berg Management I Inc. increased its holdings in shares of Second Sight Medical Products by 27.2% in the 1st quarter. Van Den Berg Management I Inc. now owns 243,679 shares of the medical device company’s stock worth $295,000 after purchasing an additional 52,102 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Second Sight Medical Products by 980,566.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 696,273 shares of the medical device company’s stock worth $258,000 after purchasing an additional 696,202 shares in the last quarter. 13.07% of the stock is owned by institutional investors and hedge funds.

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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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