Price Action to Note: A Reversal for Second Sight Medical Products Inc Is Not Near. The Stock Reaches All-Time Low Today

Price Action to Note: A Reversal for Second Sight Medical Products Inc Is Not Near. The Stock Reaches All Time Low Today

The stock of Second Sight Medical Products Inc (NASDAQ:EYES) reached all time low today, Oct, 13 and still has $2.76 target or 10.00% below today’s $3.07 share price. This indicates more downside for the $126.42 million company. This technical setup was reported by Barchart.com. If the $2.76 PT is reached, the company will be worth $12.64M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 137,243 shares traded hands. Second Sight Medical Products Inc (NASDAQ:EYES) has declined 38.54% since March 10, 2016 and is downtrending. It has underperformed by 46.06% the S&P500.

Analysts await Second Sight Medical Products Inc (NASDAQ:EYES) to report earnings on November, 3. They expect $-0.16 EPS, down 23.08% or $0.03 from last year’s $-0.13 per share. After $-0.19 actual EPS reported by Second Sight Medical Products Inc for the previous quarter, Wall Street now forecasts -15.79% EPS growth.

According to Zacks Investment Research, “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.”

More notable recent Second Sight Medical Products Inc (NASDAQ:EYES) news were published by: Businesswire.com which released: “Second Sight Medical Products, Inc. Announces Completion of Oversubscribed …” on June 01, 2016, also Marketwatch.com with their article: “Second Sight Medical Products Inc.” published on May 17, 2011, Latimes.com published: “With ‘bionic eye’ booming, Second Sight is on analysts’ radar” on March 16, 2015. More interesting news about Second Sight Medical Products Inc (NASDAQ:EYES) were released by: Fool.com and their article: “Why Second Sight Medical Products, Inc. Stock Bolted Higher Today” published on April 08, 2015 as well as Fool.com‘s news article titled: “Why Second Sight Medical Products Inc. Vaulted Higher Today” with publication date: February 27, 2015.

EYES Company Profile

Second Sight Medical Products, Inc., incorporated on May 22, 2003, 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. It does not restore normal vision and it does not slow or reverse the progression of the disease.

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