Finance

What Recent Ownership Trends Suggest About Second Sight Medical Products, Inc. (EYES)’s Future Performance

Recent insider trends for Second Sight Medical Products, Inc. (NASDAQ:EYES) have caught the attention of investors. Analysts monitor insider data to understand the sentiment of a company’s largest and most important shareholders. EYES’s insider trading patterns have some implications for where the stock might be headed.

Institutions own 15.84% of Second Sight Medical Products, Inc. (EYES)’s shares. The total value of these holdings, in millions, is $18. Among active positions in the latest quarter, 15 holders increased their positions by a total of 1.71 million shares, 19 holders decreased the positions by a total of 577944 shares, and 20 holders held their positions. This works out to a net increase in ownership of 1.13 million shares, and suggests that institutions are feeling bullish about the stock.

Among new and sold out positions, 10 holders initiated new positions by a total of 1.5 million shares and 9 holders exited their positions by a total of 391528 shares. This nets out to an increase of 1.11 million shares and is a bullish sign for EYES.

In the last three months, insiders executed a total of 6 trades. 5 of these were buys and 1 were sells. Insider ownership increased by a total of 74208 shares, which suggests that EYES’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 11 buys and 3 sells, and ownership increased by a net of 10.95 million shares.



Analysts often look at short interest, or the number of shares currently being shorted by investors, to aid in their outlook for a particular stock. Second Sight Medical Products, Inc. (NASDAQ:EYES)’s short interest is 2.86 million shares, or 12.18% of the float. This represents a decrease of -13% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.

Given what the insider ownership patterns are saying, it makes sense to consider the technicals to see if these pieces of information reach the same conclusion about the outlook for EYES. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that EYES is a Strong buy, which implies that EYES is expected to outperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Second Sight Medical Products, Inc. (NASDAQ:EYES) is undervalued.

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