Eyenovia, Inc. (NASDAQ:EYEN) Short Interest Update

Eyenovia, Inc. (NASDAQ:EYEN) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 3,310,000 shares, an increase of 65.5% from the August 31st total of 2,000,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

Several brokerages recently issued reports on EYEN. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Eyenovia in a report on Tuesday, August 13th. William Blair raised Eyenovia to a “strong-buy” rating in a research report on Friday, August 30th.

Insider Buying and Selling at Eyenovia

In other news, major shareholder Stuart M. Grant purchased 1,515,151 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was purchased at an average cost of $0.66 per share, with a total value of $999,999.66. Following the purchase, the insider now owns 10,914,153 shares in the company, valued at approximately $7,203,340.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael M. Rowe purchased 50,000 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now owns 82,927 shares in the company, valued at approximately $47,268.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Stuart M. Grant acquired 1,515,151 shares of Eyenovia stock in a transaction dated Tuesday, July 2nd. The shares were bought at an average cost of $0.66 per share, with a total value of $999,999.66. Following the completion of the purchase, the insider now owns 10,914,153 shares in the company, valued at $7,203,340.98. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,592,222 shares of company stock valued at $1,042,577. 7.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eyenovia

Several institutional investors and hedge funds have recently added to or reduced their stakes in EYEN. Leo Wealth LLC acquired a new position in Eyenovia in the 4th quarter valued at about $34,000. Nations Financial Group Inc. IA ADV bought a new position in shares of Eyenovia during the fourth quarter valued at $84,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Eyenovia during the second quarter valued at $26,000. Ground Swell Capital LLC bought a new position in shares of Eyenovia during the second quarter valued at $27,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Eyenovia during the second quarter valued at $87,000. 25.84% of the stock is owned by institutional investors.

Eyenovia Price Performance

EYEN stock remained flat at $0.46 during trading on Thursday. 1,542,242 shares of the company traded hands, compared to its average volume of 1,254,247. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.27 and a current ratio of 0.46. The company has a 50 day simple moving average of $0.77 and a 200-day simple moving average of $0.82. Eyenovia has a 1 year low of $0.37 and a 1 year high of $2.57. The company has a market cap of $29.66 million, a PE ratio of -0.62 and a beta of 1.74.

Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Eyenovia had a negative net margin of 116,506.25% and a negative return on equity of 547.46%. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $1.38 million. Equities analysts expect that Eyenovia will post -0.57 EPS for the current year.

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.