Second Sight Medical Products (EYES) Shares Down 9.2%

Second Sight Medical Products, Inc. (NASDAQ:EYES) shares fell 9.2% on Wednesday . The stock traded as low as $1.60 and last traded at $1.77. 821,500 shares traded hands during trading, an increase of 44% from the average session volume of 569,649 shares. The stock had previously closed at $1.95.

Several research firms recently weighed in on EYES. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Second Sight Medical Products in a research report on Monday, November 6th. Zacks Investment Research raised Second Sight Medical Products from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th.

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 analysts’ consensus estimates of ($0.14) by $0.02. Second Sight Medical Products had a negative return on equity of 184.87% and a negative net margin of 565.12%. The firm had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.54 million. equities research analysts predict 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. raised its position in Second Sight Medical Products, Inc. (NASDAQ:EYES) by 0.7% during the second 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 purchasing an additional 5,973 shares during the quarter. Vanguard Group Inc. owned approximately 1.50% of Second Sight Medical Products worth $1,062,000 at the end of the most recent quarter. 12.70% of the stock is currently owned by institutional investors.

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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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