Eyenovia (NASDAQ:EYEN) Downgraded to Neutral Rating by HC Wainwright

HC Wainwright downgraded shares of Eyenovia (NASDAQ:EYEN) from a buy rating to a neutral rating in a research report released on Monday morning, Marketbeat Ratings reports. HC Wainwright currently has $2.00 price objective on the stock, down from their prior price objective of $12.00. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.52) EPS, FY2024 earnings at ($0.51) EPS, FY2025 earnings at ($0.48) EPS, FY2025 earnings at ($0.46) EPS, FY2026 earnings at ($0.36) EPS, FY2026 earnings at ($0.31) EPS, FY2027 earnings at $0.14 EPS, FY2027 earnings at ($0.16) EPS, FY2028 earnings at $0.05 EPS and FY2028 earnings at $0.56 EPS.

A number of other equities research analysts have also issued reports on EYEN. Brookline Capital Management reissued a “hold” rating on shares of Eyenovia in a report on Friday, November 15th. William Blair reissued a “market perform” rating on shares of Eyenovia in a research note on Friday, November 15th.

Eyenovia Stock Up 13.7 %

NASDAQ EYEN opened at $0.11 on Monday. Eyenovia has a one year low of $0.08 and a one year high of $2.57. 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 business has a fifty day moving average price of $0.46 and a 200 day moving average price of $0.69. The company has a market cap of $6.73 million, a P/E ratio of -0.14 and a beta of 1.75.

Eyenovia (NASDAQ:EYEN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping 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 in the previous year, the company posted ($0.18) EPS. Research analysts anticipate that Eyenovia will post -0.5 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael M. Rowe bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $0.57 per share, with a total value of $28,500.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Trading of Eyenovia

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

Eyenovia Company Profile

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.