Second Sight Medical Products (NASDAQ:EYES) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Second Sight Medical Products, Inc. is a medical device company. It develops, manufactures, and markets implantable prosthetic devices to restore some functional vision to blind patients. The Company provides Argus II system, an implantable neurostimulation device for the treatment of outer retinal degenerations, such as retinitis pigmentosa. Second Sight Medical Products, Inc. is headquartered in Sylmar, California. “

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Second Sight Medical Products in a research note on Monday, November 6th.

Second Sight Medical Products (NASDAQ EYES) traded down $0.04 during midday trading on Monday, reaching $1.88. The company had a trading volume of 272,000 shares, compared to its average volume of 585,150. Second Sight Medical Products has a fifty-two week low of $0.90 and a fifty-two week high of $2.83. The firm has a market capitalization of $107.93, a PE ratio of -2.81 and a beta of 3.71.

Second Sight Medical Products (NASDAQ:EYES) last released its earnings results on Thursday, November 2nd. The medical device company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. Second Sight Medical Products had a negative return on equity of 184.87% and a negative net margin of 565.12%. The business had revenue of $1.61 million during the quarter, compared to analysts’ expectations of $1.54 million. equities analysts expect that Second Sight Medical Products will post -0.55 EPS for the current year.

A hedge fund recently raised its stake in Second Sight Medical Products stock. Vanguard Group Inc. raised its position in Second Sight Medical Products Inc (NASDAQ:EYES) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 843,462 shares of the medical device company’s stock after acquiring an additional 5,973 shares during the period. Vanguard Group Inc. owned approximately 1.50% of Second Sight Medical Products worth $1,062,000 as of its most recent filing with the SEC. 12.70% of the stock is currently owned by institutional investors and hedge funds.

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About Second Sight Medical Products

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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