Second Sight Medical Products Inc. [EYES] stock Initiated by Dougherty & Company analyst, price target now $2


Second Sight Medical Products Inc. [NASDAQ: EYES] stock went on an upward path that rose over 3.41% on Friday, amounting to a one-week price decrease of less than -4.50%. The company report on April 14, 2022 that Nano Precision Medical Co-Founder and CEO Discusses Proposed Second Sight Merger in Interview to Air on Bloomberg U.S. on the RedChip Money Report®.

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Second Sight Medical Products, Inc. (NASDAQ: EYES) (“Second Sight”), a recognized global leader in neuromodulation devices for blindness, today announced that an interview with Adam Mendelsohn, Ph.D., Co-Founder and CEO of Nano Precision Medical, Inc. (“NPM”), will air on The RedChip Money Report® on Bloomberg US on April 16 at 7 p.m. Eastern Time (ET). Bloomberg US is available in an estimated 73 million homes across the United States.

As previously announced, Second Sight and NPM have entered into a definitive agreement under which privately held NPM will merge with a wholly owned subsidiary of Second Sight in an all-stock transaction. NPM will be the surviving company and owned by Second Sight. The resulting company will focus on development of innovative drug and device medical implants that treat chronic diseases with high unmet medical need.

Over the last 12 months, EYES stock dropped by -67.38%. The average equity rating for EYES stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $80.79 million, with 39.41 million shares outstanding and 29.48 million shares in the current float. Compared to the average trading volume of 351.90K shares, EYES stock reached a trading volume of 188574 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.18 The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 1.56.

EYES Stock Performance Analysis:

Second Sight Medical Products Inc. [EYES] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.50. With this latest performance, EYES shares gained by 21.14% in over the last four-week period, additionally plugging by 13.98% over the last 6 months – not to mention a drop of -67.38% 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 52.68, with the RSI for the last a single of trading hit 49.03, and the three-weeks RSI is set at 54.67 for Second Sight Medical Products Inc. [EYES]. The present Moving Average for the last 50 days of trading for this stock 1.76, while it was recorded at 2.07 for the last single week of trading, and 2.03 for the last 200 days.

Insight into Second Sight Medical Products Inc. Fundamentals:

Return on Equity for this stock declined to -26.36, with Return on Assets sitting at -23.68.

Second Sight Medical Products Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 25.20 and a Current Ratio set at 25.20.

Second Sight Medical Products Inc. [EYES] Insider Position Details

There are presently around $6 million, or 7.00% of EYES stock, in the hands of institutional investors. The top three institutional holders of EYES stocks are: VANGUARD GROUP INC with ownership of 1,221,704, which is approximately 1.425% of the company’s market cap and around 25.20% of the total institutional ownership; MORGAN STANLEY, holding 563,207 shares of the stock with an approximate value of $1.19 million in EYES stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.46 million in EYES stock with ownership of nearly 24.067% 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 13 institutional holders increased their position in Second Sight Medical Products Inc. [NASDAQ:EYES] by around 279,743 shares. Additionally, 18 investors decreased positions by around 1,125,007 shares, while 7 investors held positions by with 1,335,137 shares. The mentioned changes placed institutional holdings at 2,739,887 shares, according to the latest SEC report filing. EYES stock had 6 new institutional investments in for a total of 209,833 shares, while 10 institutional investors sold positions of 584,774 shares during the same period.