Second Sight Medical Products (NASDAQ:EYES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Second Sight Medical Products, Inc. is a medical device company. It develops, manufactures, and markets implantable prosthetic devices to restore some functional vision to blind patients. The Company provides Argus II system, an implantable neurostimulation device for the treatment of outer retinal degenerations, such as retinitis pigmentosa. Second Sight Medical Products, Inc. is headquartered in Sylmar, California. “

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Second Sight Medical Products in a research report on Monday, November 6th.

Shares of Second Sight Medical Products (NASDAQ EYES) traded down $0.08 during trading on Monday, hitting $1.92. 453,300 shares of the stock were exchanged, compared to its average volume of 1,140,000. Second Sight Medical Products has a 52 week low of $0.90 and a 52 week high of $2.83. The company has a market capitalization of $109.07, a PE ratio of -2.87 and a beta of 3.71.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Venture Management LLC bought a new position in shares of Second Sight Medical Products in the first quarter worth about $5,436,000. Vanguard Group Inc. lifted its holdings in shares of Second Sight Medical Products by 0.7% in the second quarter. Vanguard Group Inc. now owns 843,462 shares of the medical device company’s stock worth $1,062,000 after acquiring an additional 5,973 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Second Sight Medical Products by 980,566.2% in the first quarter. BNP Paribas Arbitrage SA now owns 696,273 shares of the medical device company’s stock worth $258,000 after acquiring an additional 696,202 shares during the last quarter. Zeke Capital Advisors LLC bought a new position in shares of Second Sight Medical Products in the fourth quarter worth about $2,924,000. Finally, Harvest Capital Strategies LLC lifted its holdings in shares of Second Sight Medical Products by 759.1% in the first quarter. Harvest Capital Strategies LLC now owns 382,281 shares of the medical device company’s stock worth $1,846,000 after acquiring an additional 337,783 shares during the last quarter. 12.70% of the stock is owned by institutional investors and hedge funds.

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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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