Second Sight Medical Products Inc. (EYES) Sees Large Volume Increase
Second Sight Medical Products Inc. (NASDAQ:EYES) saw unusually-strong trading volume on Thursday . Approximately 2,601,358 shares traded hands during trading, an increase of 285% from the previous session’s volume of 675,624 shares.The stock last traded at $4.04 and had previously closed at $3.38.
Separately, Zacks Investment Research downgraded shares of Second Sight Medical Products from a “hold” rating to a “sell” rating in a research note on Monday, April 4th.
The firm’s market cap is $146.31 million. The stock’s 50 day moving average price is $3.78 and its 200-day moving average price is $4.63.
Second Sight Medical Products (NASDAQ:EYES) last posted its quarterly earnings results on Thursday, April 28th. The medical device company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $1.05 million for the quarter, compared to analysts’ expectations of $1.38 million. The business’s quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, analysts forecast that Second Sight Medical Products Inc. will post ($0.65) EPS for the current year.
In other news, Chairman Robert J. Greenberg sold 8,571 shares of Second Sight Medical Products stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $4.10, for a total transaction of $35,141.10. Following the completion of the transaction, the chairman now directly owns 172,911 shares of the company’s stock, valued at approximately $708,935.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Robert J. Greenberg sold 8,223 shares of Second Sight Medical Products stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $5.27, for a total transaction of $43,335.21. Following the transaction, the chairman now directly owns 181,134 shares of the company’s stock, valued at $954,576.18. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Second Sight Medical Products stock. Zeke Capital Advisors LLC purchased a new position in shares of Second Sight Medical Products Inc. (NASDAQ:EYES) during the fourth quarter, Holdings Channel reports. The fund purchased 496,428 shares of the medical device company’s stock, valued at approximately $2,924,000. Second Sight Medical Products makes up approximately 2.5% of Zeke Capital Advisors LLC’s investment portfolio, making the stock its 10th largest position. Zeke Capital Advisors LLC owned 1.38% of Second Sight Medical Products as of its most recent filing with the SEC.
Second Sight Medical Products, Inc is a medical device company that develops, manufactures and markets implantable visual prosthetics to restore some functional vision to blind patients. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP).
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