Price Action to Note: A Reversal for Second Sight Medical Products Inc Is Not Near. The Stock Reaches 1 Year Low Today

Price Action to Note: A Reversal for Second Sight Medical Products Inc Is Not Near. The Stock Reaches 1 Year Low Today

The stock of Second Sight Medical Products Inc (NASDAQ:EYES) hit a new 52-week low and has $2.55 target or 11.00% below today’s $2.87 share price. The 5 months bearish chart indicates high risk for the $115.75 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $2.55 price target is reached, the company will be worth $12.73M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 96,774 shares traded hands. Second Sight Medical Products Inc (NASDAQ:EYES) has declined 43.30% since March 14, 2016 and is downtrending. It has underperformed by 48.91% the S&P500.

Analysts await Second Sight Medical Products Inc (NASDAQ:EYES) to report earnings on November, 3. They expect $-0.16 earnings per share, down 23.08% or $0.03 from last year’s $-0.13 per share. After $-0.19 actual earnings per share 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 Latimes.com with their article: “With ‘bionic eye’ booming, Second Sight is on analysts’ radar” published on March 16, 2015, Fool.com published: “Why Second Sight Medical Products, Inc. Stock Bolted Higher Today” on April 08, 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. Vaulted Higher Today” published on February 27, 2015 as well as Fool.com‘s news article titled: “Why Second Sight Medical Products, Inc. Is Tumbling” with publication date: March 12, 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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