Eyenovia, Inc. (NASDAQ:EYEN) Sees Significant Decrease in Short Interest

Eyenovia, Inc. (NASDAQ:EYEN) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 3,900,000 shares, a decline of 37.8% from the November 30th total of 6,270,000 shares. Based on an average daily volume of 8,770,000 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Eyenovia

A number of institutional investors and hedge funds have recently modified their holdings of EYEN. Armistice Capital LLC bought a new position in Eyenovia in the 2nd quarter valued at $3,601,000. Geode Capital Management LLC grew its holdings 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 worth $288,000 after purchasing an additional 149,471 shares during the last quarter. SkyView Investment Advisors LLC purchased a new position in Eyenovia in the 2nd quarter worth about $87,000. Financial Management Network Inc. purchased a new position in Eyenovia in the 3rd quarter worth about $39,000. Finally, Ground Swell Capital LLC bought a new stake in Eyenovia during the 2nd quarter valued at about $27,000. 25.84% of the stock is owned by institutional investors.

Eyenovia Stock Performance

Eyenovia stock opened at $0.09 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.58. Eyenovia has a twelve month low of $0.08 and a twelve month high of $2.57. The company’s 50-day moving average price is $0.27 and its 200-day moving average price is $0.57. The company has a market cap of $7.95 million, a PE ratio of -0.13 and a beta of 1.44.

Eyenovia (NASDAQ:EYEN) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm posted ($0.18) earnings per share. On average, equities research analysts forecast that Eyenovia will post -0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.