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Friday, September 22, 2023

Second Sight Medical Products Inc. (NASDAQ:EYES) is Waving the Bull Flag

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Second Sight Medical Products Inc. (EYES) shares are trading at higher $1.09 and the avg recommendation for the stock is Moderate Buy.

To add more color to this target, the company’s high over the last year is $7.36 and the low is $0.69. Over the last 52 weeks, EYES is down -85.04% while the S&P 500 is up 15.47%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

EYES Return on Assets is -297.70%. All told, it is clear that, EYES needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. EYES has a short ratio of 0.59 and outstanding shares of 23.12M.

Company Outlook

EYES has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.93 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.29. Second Sight Medical Products Inc. EYES also noted assets of $3.52 million at the end of the last quarter. Investors should also keep an eye on sector updates as EYES has historically followed its peers on positive news.

All told, Second Sight Medical Products Inc. EYES has strung together solid data and demonstrated underlying fundamentals. At its current valuation, EYES represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Second Sight Medical Products Inc. EYES is now commanding a market cap of 25.33M and a float of 13.16M. EYES is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of EYES stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in EYES, either long or short, and we have not been compensated for this article.

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