Second Sight Medical Products (EYES) Stock Price Up 16.1%

Shares of Second Sight Medical Products Inc (NASDAQ:EYES) rose 16.1% on Monday . The stock traded as high as $2.17 and last traded at $2.38. Approximately 6,665,490 shares changed hands during trading, an increase of 1,012% from the average daily volume of 599,167 shares. The stock had previously closed at $2.05.

EYES has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Second Sight Medical Products in a research report on Monday, November 6th. Zacks Investment Research upgraded Second Sight Medical Products from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th.

The company has a market cap of $116.45, a PE ratio of -3.72 and a beta of 3.46.

Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings data on Thursday, November 2nd. The medical device company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $1.61 million during the quarter, compared to the consensus estimate of $1.54 million. Second Sight Medical Products had a negative return on equity of 184.87% and a negative net margin of 565.12%. equities research analysts forecast that Second Sight Medical Products Inc will post -0.55 EPS for the current year.

An institutional investor recently raised its position in Second Sight Medical Products stock. Vanguard Group Inc. lifted its position in Second Sight Medical Products Inc (NASDAQ:EYES) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,462 shares of the medical device company’s stock after acquiring an additional 5,973 shares during the quarter. Vanguard Group Inc. owned 1.50% of Second Sight Medical Products worth $1,062,000 as of its most recent SEC filing. Institutional investors and hedge funds own 12.70% 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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