Shares of Second Sight Medical Products, Inc. (NASDAQ:EYES) traded down 0.8% during trading on Wednesday . The stock traded as low as $1.15 and last traded at $1.18. 163,142 shares changed hands during trading, a decline of 58% from the average session volume of 384,595 shares. The stock had previously closed at $1.19.

Several analysts recently commented on the stock. HC Wainwright set a $5.00 target price on shares of Second Sight Medical Products and gave the stock a “buy” rating in a report on Tuesday, August 29th. Zacks Investment Research downgraded shares of Second Sight Medical Products from a “hold” rating to a “sell” rating in a report on Thursday, August 10th.

The firm’s market capitalization is $67.30 million. The firm has a 50 day moving average of $1.11 and a 200 day moving average of $1.21.

Second Sight Medical Products (NASDAQ:EYES) last posted its quarterly earnings results on Tuesday, August 1st. The medical device company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. The company had revenue of $2.24 million during the quarter, compared to analyst estimates of $1.43 million. Second Sight Medical Products had a negative net margin of 646.89% and a negative return on equity of 168.49%. The firm’s revenue for the quarter was up 124.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, equities analysts expect that Second Sight Medical Products, Inc. will post ($0.55) earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Second Sight Medical Products by 0.7% during the second quarter. Vanguard Group Inc. now owns 843,462 shares of the medical device company’s stock worth $1,062,000 after purchasing an additional 5,973 shares during the period. Van Den Berg Management I Inc. boosted its position in Second Sight Medical Products by 27.2% during the first quarter. Van Den Berg Management I Inc. now owns 243,679 shares of the medical device company’s stock worth $295,000 after purchasing an additional 52,102 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Second Sight Medical Products by 980,566.2% during the first quarter. BNP Paribas Arbitrage SA now owns 696,273 shares of the medical device company’s stock worth $258,000 after purchasing an additional 696,202 shares during the period. Hedge funds and other institutional investors own 13.07% 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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