Second Sight Medical Products Inc. [NASDAQ: EYES] traded at a high on 05/27/21, posting a 0.78 gain after which it closed the day’ session at $5.14. The company report on May 13, 2021 that Second Sight Medical Products Announces Year Three NIH Funding of Its Orion Study.
Grant proceeds support ongoing early feasibility study of Orion.
Second Sight Medical Products, Inc. (NASDAQ: EYES) (the “Company” or “Second Sight”), a leading developer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, announced that the Company received notice from the National Institutes of Health (NIH) of the release of year three funding for its Early Feasibility Clinical Trial of a Visual Cortical Prosthesis (the Orion Trial), grant UH3NS103442. The NIH released $1.4 million of the $6.4 million planned five-year grant. The Company uses the funds primarily to pay UCLA and Baylor College of Medicine to conduct the Orion Trial. This NIH notice of grant award follows the reporting by the Company of promising two-year data from the Orion Trial on May 12, 2021. The funding supports continuation of this important research and testing of the Orion Visual Cortical Prosthesis.
The results of the trading session contributed to over 3477608 shares changing hands. Over the past one week, the price volatility of Second Sight Medical Products Inc. stands at 7.52% while the volatility over the past one month is 11.74%.
The market cap for EYES stock reached $141.45 million, with 23.54 million shares outstanding and 17.96 million shares in the current float. Compared to the average trading volume of 26.74M shares, EYES reached a trading volume of 3477608 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Second Sight Medical Products Inc. [EYES]?
Dougherty & Company have made an estimate for Second Sight Medical Products Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 13, 2019. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 06, 2015, representing the official price target for Second Sight Medical Products Inc. stock.
The Average True Range (ATR) for Second Sight Medical Products Inc. is set at 0.60 The Price to Book ratio for the last quarter was 5.78, with the Price to Cash per share for the same quarter was set at 0.98.
How has EYES stock performed recently?
Second Sight Medical Products Inc. [EYES] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.78. With this latest performance, EYES shares dropped by -29.78% in over the last four-week period, additionally plugging by 489.31% over the last 6 months – not to mention a rise of 448.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EYES stock in for the last two-week period is set at 39.79, with the RSI for the last a single of trading hit 40.41, and the three-weeks RSI is set at 42.17 for Second Sight Medical Products Inc. [EYES]. The present Moving Average for the last 50 days of trading for this stock 7.40, while it was recorded at 5.07 for the last single week of trading, and 3.38 for the last 200 days.
Second Sight Medical Products Inc. [EYES]: Deeper insight into the fundamentals
Return on Total Capital for EYES is now -222.13, given the latest momentum, and Return on Invested Capital for the company is -331.85. Return on Equity for this stock declined to -450.70, with Return on Assets sitting at -141.32. Additionally, EYES Total Debt to Total Capital is recorded at 143.98, with Total Debt to Total Assets ending up at 49.33.
Reflecting on the efficiency of the workforce at the company, Second Sight Medical Products Inc. [EYES] managed to generate an average of -$1,240,000 per employee.Second Sight Medical Products Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 4.00.
Earnings analysis for Second Sight Medical Products Inc. [EYES]
With the latest financial reports released by the company, Second Sight Medical Products Inc. posted -0.48/share EPS, while the average EPS was predicted by analysts to be reported at -0.48/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EYES.
Insider trade positions for Second Sight Medical Products Inc. [EYES]
There are presently around $17 million, or 12.10% of EYES stock, in the hands of institutional investors. The top three institutional holders of EYES stocks are: HUDSON BAY CAPITAL MANAGEMENT LP with ownership of 1,000,000, which is approximately New of the company’s market cap and around 35.63% of the total institutional ownership; SABBY MANAGEMENT, LLC, holding 922,193 shares of the stock with an approximate value of $4.7 million in EYES stocks shares; and VANGUARD GROUP INC, currently with $3.14 million in EYES stock with ownership of nearly 51.597% of the company’s market capitalization.
Positions in Second Sight Medical Products Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 22 institutional holders increased their position in Second Sight Medical Products Inc. [NASDAQ:EYES] by around 2,789,537 shares. Additionally, 9 investors decreased positions by around 122,557 shares, while 3 investors held positions by with 439,858 shares. The mentioned changes placed institutional holdings at 3,351,952 shares, according to the latest SEC report filing. EYES stock had 14 new institutional investments in for a total of 2,160,730 shares, while 6 institutional investors sold positions of 78,775 shares during the same period.