Second Sight Medical Products Inc. (EYES) Sees Large Volume Increase
Shares of Second Sight Medical Products Inc. (NASDAQ:EYES) saw unusually-high trading volume on Monday . Approximately 446,960 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 247,582 shares.The stock last traded at $3.60 and had previously closed at $3.61.
EYES has been the topic of several research reports. Zacks Investment Research cut Second Sight Medical Products from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Rodman & Renshaw reaffirmed a “buy” rating and issued a $16.00 price target on shares of Second Sight Medical Products in a report on Tuesday, July 26th.
The stock’s market cap is $149.81 million. The stock’s 50 day moving average is $3.96 and its 200 day moving average is $4.42.
Second Sight Medical Products (NASDAQ:EYES) last announced its earnings results on Thursday, July 28th. The medical device company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.02. The firm earned $1.04 million during the quarter, compared to the consensus estimate of $2.66 million. The business’s quarterly revenue was down 63.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. On average, analysts anticipate that Second Sight Medical Products Inc. will post ($0.62) earnings per share for the current year.
In other news, Chairman Robert J. Greenberg sold 8,571 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $4.10, for a total value of $35,141.10. Following the completion of the sale, the chairman now directly owns 172,911 shares in the company, valued at $708,935.10. The sale was disclosed in a filing with the SEC, which is accessible through this link.
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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