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

Eyenovia, Inc. (NASDAQ:EYEN) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 2,140,000 shares, a decline 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 currently 1.4 days.

Insider Buying and Selling

In other Eyenovia news, CEO Michael M. Rowe bought 50,000 shares of Eyenovia stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average cost of $0.57 per share, for a total transaction of $28,500.00. Following the completion of the transaction, the chief executive officer now directly owns 82,927 shares in the company, valued at $47,268.39. This represents a 151.85 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eyenovia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Eyenovia in the 2nd quarter valued at approximately $26,000. Ground Swell Capital LLC bought a new position in shares of Eyenovia during the 2nd quarter valued at $27,000. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Eyenovia by 24.4% during the 2nd 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. Financial Management Network Inc. bought a new position in shares of Eyenovia during the 3rd quarter valued at $39,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Eyenovia during the 2nd quarter valued at $87,000. 25.84% of the stock is owned by institutional investors.

Eyenovia Stock Up 8.0 %

Shares of EYEN stock traded up $0.01 during midday trading on Monday, reaching $0.11. 19,599,760 shares of the stock were exchanged, compared to its average volume of 1,528,954. Eyenovia has a 1 year low of $0.09 and a 1 year high of $2.57. The company’s 50 day moving average is $0.49 and its two-hundred day moving average is $0.71. The company has a current ratio of 0.74, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. The firm has a market cap of $7.05 million, a PE ratio of -0.15 and a beta of 1.75.

Eyenovia (NASDAQ:EYEN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Eyenovia had a negative return on equity of 1,108.24% and a negative net margin of 114,639.41%. During the same period in the prior year, the company posted ($0.18) EPS. On average, equities research analysts predict that Eyenovia will post -0.5 EPS for the current year.

Analysts Set New Price Targets

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

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.