Second Sight Medical Products, Inc. (NASDAQ:EYES), concluded the day at $0.94 after seeing a rise of 0.97% that brought its market cap to $21.2 million. The Medical Devices company is currently upholding a gross margin of 36.3% while company’s EPS for trailing 12 months is -$2.34 and it is estimated to be posting an EPS of -$0.48 for the current quarter.
Second Sight Medical Products Inc. (NASDAQ: EYES), on May 5, 2020, announced that it closed its previously announced underwritten public offering of 7,500,000 shares of common stock at an offering price of $1.00 per share for aggregate gross proceeds of $7,500,000, prior to deducting underwriting discounts, commissions and other offering expenses.
Regarding its intentions of utilizing the funds, Second Sight Medical Products said that it will use the net proceeds from the offering for accrued expenses, working capital and general corporate purposes, which may include, without limitation, engaging in partnerships, business combinations, or acquisitions or investing in businesses that may or may not be related to its current operations. ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering. The shares of common stock in this offering were offered on a firm commitment basis, any and all basis pursuant to an effective shelf registration statement.
The Beta number showed the stock is subject to risk 155% more than the market as a whole. In the trailing twelve months, its return on assets (ROA) is -121.5% while ROE for the same period is -188.5% and have seen an average of -465.1% return on investment (ROI). The outstanding share count is 22.67 million shares but the size of available float is 13.18 million shares.
The stock’s current price is lagging SMA-200 by -81.56% which is also -50.61% down from SMA-50. Reducing that period to a shorter term, we see the price is also lagging -33.69% to the SMA-20. Volatility for the week was 9.43%, which was 7.52% in the previous month. The company closed the session with a trading volume of 524.74 thousand shares, above from its average daily trading volume of 335.25 thousand. It has been generating revenue of $3.4 million while net income posted by the company in last 12 months was -$33.6 million.
When looking at performance, we see the stock demonstrating a weekly performance of -10.95% while keeping a monthly performance of -39.68%. Quarterly performance saw a drop of -83.6% and continued the negative trend with a yearly performance of -86.74% while showing YTD performance of -84.25% which was -87.27% for last six months. The 52-week range for the stock was 0.71 – 8.96 that put its current price at a premium of 31.69% to the 52-week low price whereas it is trading at a discount of -89.56% to the 52-week high price.