Short Interest in Eyenovia, Inc. (NASDAQ:EYEN) Rises By 65.9%

Eyenovia, Inc. (NASDAQ:EYEN) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,550,000 shares, a growth of 65.9% from the October 31st total of 2,140,000 shares. Based on an average daily trading volume, of 4,600,000 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EYEN shares. HC Wainwright lowered shares of Eyenovia from a “buy” rating to a “neutral” rating and dropped their price target for the company from $12.00 to $2.00 in a research report on Monday, November 18th. Brookline Capital Management reiterated a “hold” rating on shares of Eyenovia in a research note on Friday, November 15th. William Blair restated a “market perform” rating on shares of Eyenovia in a research note on Friday, November 15th. Finally, LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Eyenovia in a research report on Monday, November 18th.

Eyenovia Price Performance

EYEN opened at $0.09 on Friday. Eyenovia has a fifty-two week low of $0.08 and a fifty-two week high of $2.57. The firm has a 50-day moving average of $0.42 and a 200 day moving average of $0.67. 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 firm has a market cap of $8.03 million, a P/E ratio of -0.13 and a beta of 1.75.

Eyenovia (NASDAQ:EYEN) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share 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 previous year, the business earned ($0.18) EPS. On average, research analysts expect that Eyenovia will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Eyenovia

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Eyenovia by 36.6% in the third quarter. Geode Capital Management LLC now owns 557,994 shares of the company’s stock valued at $288,000 after buying an additional 149,471 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in Eyenovia by 78.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 90,900 shares of the company’s stock valued at $47,000 after acquiring an additional 40,000 shares during the period. Financial Management Network Inc. purchased a new stake in Eyenovia during the third quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Eyenovia during the second quarter worth about $26,000. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Eyenovia in the second quarter worth about $87,000. 25.84% of the stock is owned by institutional investors.

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.