Second Sight Medical Products Inc. (EYES) Shares Up 5.1%
Shares of Second Sight Medical Products Inc. (NASDAQ:EYES) shot up 5.1% during trading on Monday . The company traded as high as $4.17 and last traded at $4.14, with a volume of 175,326 shares traded. The stock had previously closed at $3.94.
A number of research firms have commented on EYES. Zacks Investment Research downgraded shares of Second Sight Medical Products from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. Rodman & Renshaw restated a “buy” rating and set a $16.00 price target on shares of Second Sight Medical Products in a research report on Tuesday, July 26th.
The company has a 50 day moving average price of $3.90 and a 200-day moving average price of $4.46. The firm’s market cap is $147.16 million.
Second Sight Medical Products (NASDAQ:EYES) last posted its quarterly earnings results on Thursday, July 28th. The medical device company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.02. The company earned $1.04 million during the quarter, compared to analyst estimates of $2.66 million. During the same quarter last year, the firm posted ($0.12) EPS. Second Sight Medical Products’s revenue was down 63.0% compared to the same quarter last year. Analysts predict that Second Sight Medical Products Inc. will post ($0.62) earnings per share for the current fiscal year.
In related news, Chairman Robert J. Greenberg sold 8,571 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $4.10, for a total transaction of $35,141.10. Following the transaction, the chairman now directly owns 172,911 shares in the company, valued at approximately $708,935.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.