Eyenovia, Inc. (NASDAQ:EYEN) Sees Large Decline in Short Interest

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

Eyenovia Price Performance

Shares of Eyenovia stock traded up $0.01 during trading on Monday, reaching $0.11. 19,599,760 shares of the stock traded hands, compared to its average volume of 1,528,954. The company has a market capitalization of $7.05 million, a price-to-earnings ratio of -0.15 and a beta of 1.75. The business has a fifty day simple moving average of $0.49 and a two-hundred day simple moving average of $0.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.74 and a quick ratio of 0.27. 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 results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Eyenovia had a negative net margin of 114,639.41% and a negative return on equity of 1,108.24%. During the same period in the prior year, the business posted ($0.18) earnings per share. Sell-side analysts expect that Eyenovia will post -0.5 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on EYEN. Brookline Capital Management reaffirmed a “hold” rating on shares of Eyenovia in a report on Friday. HC Wainwright lowered Eyenovia from a “buy” rating to a “neutral” rating and cut their price target for the stock from $12.00 to $2.00 in a research note on Monday. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Eyenovia in a research note on Monday. Finally, William Blair reiterated a “market perform” rating on shares of Eyenovia in a research note on Friday.

Insider Activity

In related 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 bought at an average cost of $0.57 per share, with a total value of $28,500.00. Following the acquisition, the chief executive officer now owns 82,927 shares in the company, valued at $47,268.39. This trade represents a 151.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Nations Financial Group Inc. IA ADV increased its holdings 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eyenovia in the second quarter worth $26,000. Ground Swell Capital LLC purchased a new position in Eyenovia in the second quarter worth $27,000. Financial Management Network Inc. purchased a new position in Eyenovia in the third quarter worth $39,000. Finally, SkyView Investment Advisors LLC purchased a new position in 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.