Second Sight Medical Products Inc. (EYES) Trading Down 1.8%
Second Sight Medical Products Inc. (NASDAQ:EYES) shares were down 1.8% during trading on Wednesday . The company traded as low as $3.21 and last traded at $3.23, with a volume of 90,215 shares changing hands. The stock had previously closed at $3.29.
A number of research analysts have recently commented on EYES shares. Rodman & Renshaw reiterated a “buy” rating and issued a $16.00 price target on shares of Second Sight Medical Products in a research note on Tuesday, July 26th. Zacks Investment Research upgraded Second Sight Medical Products from a “sell” rating to a “hold” rating in a research note on Friday, June 24th.
The company’s market capitalization is $137.15 million. The stock has a 50-day moving average of $3.56 and a 200 day moving average of $4.17.
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Second Sight Medical Products (NASDAQ:EYES) last released its quarterly earnings data on Thursday, July 28th. The medical device company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.02. Second Sight Medical Products had a negative net margin of 366.25% and a negative return on equity of 103.44%. The business earned $1.04 million during the quarter, compared to analysts’ expectations of $2.66 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The firm’s quarterly revenue was down 63.0% on a year-over-year basis. On average, equities research analysts anticipate that Second Sight Medical Products Inc. will post ($0.62) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EYES. State Street Corp raised its position in Second Sight Medical Products by 18.2% in the second quarter. State Street Corp now owns 211,197 shares of the medical device company’s stock worth $756,000 after buying an additional 32,554 shares in the last quarter. Alliancebernstein L.P. raised its position 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 worth $121,000 after buying an additional 5,700 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Second Sight Medical Products by 16.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 352,058 shares of the medical device company’s stock worth $1,260,000 after buying an additional 50,092 shares during the period. BlackRock Fund Advisors raised its position in Second Sight Medical Products by 16.5% in the second quarter. BlackRock Fund Advisors now owns 356,344 shares of the medical device company’s stock worth $1,276,000 after buying an additional 50,376 shares during the period. Finally, BlackRock Investment Management LLC raised its position 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 worth $180,000 after buying an additional 8,073 shares during the period. Institutional investors and hedge funds own 6.88% of the company’s stock.
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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