Second Sight Medical Products Inc. (EYES) Shares Up 2.8%
Second Sight Medical Products Inc. (NASDAQ:EYES)’s share price shot up 2.8% on Tuesday . The company traded as high as $3.36 and last traded at $3.31, with a volume of 204,480 shares changing hands. The stock had previously closed at $3.22.
A number of brokerages have weighed in on EYES. Rodman & Renshaw reaffirmed a “buy” rating and set a $16.00 target price on shares of Second Sight Medical Products in a research note on Tuesday, July 26th. Zacks Investment Research upgraded shares of Second Sight Medical Products from a “sell” rating to a “hold” rating in a report on Friday, June 24th.
The stock’s market cap is $138.83 million. The company’s 50 day moving average price is $3.60 and its 200-day moving average price is $4.19.
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Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings results on Thursday, July 28th. The medical device company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.02. Second Sight Medical Products had a negative return on equity of 103.44% and a negative net margin of 366.25%. The firm had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $2.66 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. Second Sight Medical Products’s revenue for the quarter was down 63.0% on a year-over-year basis. On average, equities analysts forecast that Second Sight Medical Products Inc. will post ($0.62) EPS for the current year.
A number of large investors have recently added to or reduced their stakes in EYES. AQR Capital Management LLC bought a new stake in Second Sight Medical Products during the second quarter valued at about $102,000. Alliancebernstein L.P. boosted its stake in Second Sight Medical Products by 20.2% in the second quarter. Alliancebernstein L.P. now owns 33,900 shares of the medical device company’s stock valued at $121,000 after buying an additional 5,700 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Second Sight Medical Products by 11.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 40,984 shares of the medical device company’s stock valued at $147,000 after buying an additional 4,135 shares during the period. Carl Domino Inc boosted its stake in Second Sight Medical Products by 44.8% in the second quarter. Carl Domino Inc now owns 43,435 shares of the medical device company’s stock valued at $155,000 after buying an additional 13,435 shares during the period. Finally, BlackRock Investment Management LLC boosted its stake in Second Sight Medical Products by 19.1% in the second quarter. BlackRock Investment Management LLC now owns 50,314 shares of the medical device company’s stock valued at $180,000 after buying an additional 8,073 shares during the period. 6.88% of the stock is owned by institutional investors.
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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