Second Sight Medical Products (EYES) Stock Price Up 12.1%

Shares of Second Sight Medical Products, Inc. (NASDAQ:EYES) rose 12.1% during trading on Thursday . The stock traded as high as $1.72 and last traded at $1.67. Approximately 1,828,600 shares traded hands during mid-day trading, an increase of 247% from the average daily volume of 526,323 shares. The stock had previously closed at $1.49.

EYES has been the subject of several research reports. Zacks Investment Research downgraded Second Sight Medical Products from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. HC Wainwright set a $5.00 target price on Second Sight Medical Products and gave the company a “buy” rating in a research note on Tuesday, October 17th.

Second Sight Medical Products (NASDAQ:EYES) last issued its earnings results on Thursday, November 2nd. The medical device company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The company 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 expect that Second Sight Medical Products, Inc. will post -0.55 earnings per share for the current year.

A hedge fund recently raised its stake in Second Sight Medical Products stock. Vanguard Group Inc. lifted its holdings in Second Sight Medical Products, Inc. (NASDAQ:EYES) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 843,462 shares of the medical device company’s stock after buying an additional 5,973 shares during the period. Vanguard Group Inc. owned approximately 1.50% of Second Sight Medical Products worth $1,062,000 at the end of the most recent reporting period. Institutional investors own 12.75% 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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