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

Eyenovia, Inc. (NASDAQ:EYEN) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 138,200 shares, a drop of 41.4% from the February 28th total of 236,000 shares. Currently, 6.6% of the company’s shares are sold short. Based on an average trading volume of 447,700 shares, the days-to-cover ratio is currently 0.3 days.

Eyenovia Trading Down 10.3 %

EYEN opened at $1.13 on Monday. 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 52 week low of $1.13 and a 52 week high of $124.80. The business’s 50 day moving average is $2.18 and its two-hundred day moving average is $16.15. The firm has a market cap of $1.57 million, a price-to-earnings ratio of -0.02 and a beta of 1.29.

Hedge Funds Weigh In On Eyenovia

An institutional investor recently raised its position in Eyenovia stock. Geode Capital Management LLC increased its position in shares of Eyenovia, Inc. (NASDAQ:EYEN) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 577,393 shares of the company’s stock after purchasing an additional 19,399 shares during the quarter. Geode Capital Management LLC owned 41.54% of Eyenovia worth $84,000 as of its most recent filing with the SEC. Institutional investors own 25.84% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “neutral” rating and set a $2.00 price objective on shares of Eyenovia in a research report on Friday, March 21st.

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.