Second Sight Medical Products, Inc. (NASDAQ:EYES) Surged 101.51% In 6 Months – Here’s What Happens Next

Second Sight Medical Products, Inc. (NASDAQ:EYES)’s traded shares stood at 7,744,516 during the last session, with the company’s beta value hitting 2.49. At the close of trading, the stock’s price was $1.76, to imply a decline of -21.08% or -$0.47 in intraday trading. The EYES share’s 52-week high remains $6.4, putting it -263.64% down since that peak but still an impressive +60.74% since price per share fell to its 52-week low of $0.691. The company has a valuation of $40.69 Million, with an average of 1.28 Million shares in intraday trading volume over the past 10 days and average of 2.01 Million shares over the past 3 months.

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Analysts have given a consensus recommendation of Buy for Second Sight Medical Products, Inc. (EYES), translating to a mean rating of 2. Of 1 analyst(s) looking at the stock, none analyst(s) give EYES a Sell rating. None of those analysts rate the stock as Overweight while no one advise Hold as 1 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.

After registering a -21.08% downside in the last session, Second Sight Medical Products, Inc. (EYES) has traded red over the past five days. The stock hit a weekly high of $2.45 this Tuesday, Jan 05, jumping 28.16% in its intraday price action. The 5-day price performance for the stock is -25.42%, and 25.71% over 30 days. With these gigs, the year-to-date price performance is -5.88%. Short interest in Second Sight Medical Products, Inc. (NASDAQ:EYES) saw shorts transact 533.19 Million shares and set a 265.27 days time to cover.

Analysts on Wall Street suggest a consensus price target of $10, implying an increase of 468.18% to the stock’s current value. The extremes give us $10 and $10 for target low and target high price respectively. As such, EYES has been trading 468.18% off suggested target high and 468.18% from its likely low.

Second Sight Medical Products, Inc. (EYES) estimates and forecasts

Revenue forecast for the current quarter as set by 1 analysts is $240Million. Meanwhile, for the quarter ending Feb 2021, a total of 1 analyst(s) estimate revenue growth to $240Million. Earnings reports from the last fiscal year show that sales brought in $472Million and $497Million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to dip -49.2% before falling -51.7% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 27.3% for the past 5-year period. While 2021 is set for a 46% return in earnings, projections for the next 5 years are at 0% annually.

Second Sight Medical Products, Inc. (NASDAQ:EYES)’s Major holders

Second Sight Medical Products, Inc. insiders hold 43.09% of total outstanding shares, with institutional holders owning 32.62% of the shares at 57.31% float percentage. In total, 23 institutions holds shares in the company, led by Versant Venture Management, LLC. As of Sep 29, 2020, the company held over 561.61 Thousand shares (or 2.43% of shares), all amounting to roughly $484.33 Thousand.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 130.67 Thousand shares, or about 0.57% of shares outstanding. As of the market price on Sep 29, 2020, these shares were worth $112.69 Thousand.

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We also have Vanguard Extended Market Index Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Second Sight Medical Products, Inc. (EYES) shares. Going by data provided on Sep 29,2020, Vanguard Extended Market Index Fund holds roughly 57,555 shares. This is just over 0.25% of the total shares, with a market valuation of $49.64 Thousand. Data from the same date shows that the other fund manager holds a little less at 46.11 Thousand, or 0.2% of the shares, all valued at about $39.76 Thousand.

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