Short Interest in Eyenovia, Inc. (NASDAQ:EYEN) Drops By 96.7%

Eyenovia, Inc. (NASDAQ:EYEN) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 55,900 shares, a drop of 96.7% from the January 15th total of 1,690,000 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 350,100 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Eyenovia in a report on Monday, November 18th. Brookline Capital Management reaffirmed a “hold” rating on shares of Eyenovia in a report on Friday, November 15th. HC Wainwright reiterated a “neutral” rating and issued a $2.00 target price on shares of Eyenovia in a report on Thursday, February 6th. Finally, William Blair restated a “market perform” rating on shares of Eyenovia in a report on Friday, November 15th.

Hedge Funds Weigh In On Eyenovia

Several institutional investors have recently added to or reduced their stakes in the stock. Financial Management Network Inc. purchased a new position in Eyenovia in the third quarter valued at about $39,000. Nations Financial Group Inc. IA ADV raised its holdings in shares of Eyenovia by 78.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 90,900 shares of the company’s stock worth $47,000 after purchasing an additional 40,000 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Eyenovia by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 577,393 shares of the company’s stock valued at $84,000 after purchasing an additional 19,399 shares during the last quarter. Institutional investors own 25.84% of the company’s stock.

Eyenovia Stock Performance

Shares of Eyenovia stock opened at $1.85 on Thursday. The business’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $29.74. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.58. Eyenovia has a 12 month low of $1.73 and a 12 month high of $205.60. The firm has a market capitalization of $2.57 million, a P/E ratio of -0.03 and a beta of 1.24.

Eyenovia (NASDAQ:EYEN) last announced its earnings results on Tuesday, November 12th. The company reported ($8.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($10.40) by $1.60. Eyenovia had a negative return on equity of 1,108.24% and a negative net margin of 114,639.41%. During the same quarter last year, the firm posted ($14.40) earnings per share. As a group, analysts anticipate that Eyenovia will post -41.6 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.