Short Interest in Eyenovia, Inc. (NASDAQ:EYEN) Decreases By 6.6%

Eyenovia, Inc. (NASDAQ:EYEN) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,140,000 shares, a drop of 6.6% from the October 15th total of 2,290,000 shares. Based on an average trading volume of 1,570,000 shares, the short-interest ratio is currently 1.4 days.

Analysts Set New Price Targets

EYEN has been the subject of several research analyst reports. HC Wainwright cut Eyenovia from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $12.00 to $2.00 in a report on Monday. Brookline Capital Management reaffirmed a “hold” rating on shares of Eyenovia in a research note on Friday, November 15th. William Blair reiterated a “market perform” rating on shares of Eyenovia in a report on Friday, November 15th. Finally, LADENBURG THALM/SH SH restated a “neutral” rating on shares of Eyenovia in a report on Monday.

Eyenovia Stock Up 7.4 %

Shares of NASDAQ:EYEN opened at $0.12 on Wednesday. The firm has a market capitalization of $7.64 million, a P/E ratio of -0.16 and a beta of 1.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.55 and a current ratio of 0.74. The stock has a 50 day moving average price of $0.47 and a 200-day moving average price of $0.70. Eyenovia has a 52-week low of $0.09 and a 52-week high of $2.57.

Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Eyenovia had a negative return on equity of 1,108.24% and a negative net margin of 114,639.41%. During the same quarter last year, the company earned ($0.18) earnings per share. As a group, equities research analysts anticipate that Eyenovia will post -0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael M. Rowe acquired 50,000 shares of the stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $0.57 per share, with a total value of $28,500.00. Following the completion of the purchase, the chief executive officer now owns 82,927 shares in the company, valued at approximately $47,268.39. The trade was a 151.85 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Eyenovia

Several hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Eyenovia during the second quarter valued at approximately $26,000. Ground Swell Capital LLC bought a new position in Eyenovia during the 2nd quarter valued at approximately $27,000. Nations Financial Group Inc. IA ADV raised its stake in Eyenovia by 24.4% during the second quarter. Nations Financial Group Inc. IA ADV now owns 50,900 shares of the company’s stock valued at $30,000 after buying an additional 10,000 shares during the last quarter. Financial Management Network Inc. bought a new stake in Eyenovia in the third quarter worth $39,000. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Eyenovia in the second quarter worth $87,000. Institutional investors own 25.84% of the company’s stock.

About Eyenovia

Eyenovia, Inc, an ophthalmic technology company, engages in the development of therapeutics based on its proprietary microdose array print platform technology. The company's product candidates include MicroPine, which is in Phase III clinical development program with indications for pediatric myopia progression (near-sightedness); MicroLine, which is in Phase III clinical development program with indications for the improvement in near vision in people with presbyopia; and Mydcombi, which is in Phase III clinical development program with indications for pharmaceutical mydriasis.