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

Eyenovia, Inc. (NASDAQ:EYEN) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 4,590,000 shares, a growth of 17.7% from the December 15th total of 3,900,000 shares. Based on an average trading volume of 20,560,000 shares, the days-to-cover ratio is currently 0.2 days.

Eyenovia Stock Performance

Shares of EYEN traded down $0.00 during midday trading on Friday, reaching $0.06. 34,207,602 shares of the stock were exchanged, compared to its average volume of 44,044,192. Eyenovia has a twelve month low of $0.06 and a twelve month high of $2.57. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.58. The company has a market cap of $6.98 million, a P/E ratio of -0.09 and a beta of 1.31. The stock’s 50 day simple moving average is $0.13 and its 200 day simple moving average is $0.50.

Eyenovia (NASDAQ:EYEN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned ($0.18) EPS. On average, sell-side analysts expect that Eyenovia will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position 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 period. Nations Financial Group Inc. IA ADV increased its position in shares of Eyenovia by 78.6% in the third 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. Financial Management Network Inc. acquired a new position in Eyenovia during the third quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Eyenovia during the second quarter worth about $26,000. Finally, SkyView Investment Advisors LLC acquired a new position in Eyenovia during the second quarter worth about $87,000. Institutional investors own 25.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EYEN. LADENBURG THALM/SH SH reissued a “neutral” rating on shares of Eyenovia in a research note on Monday, November 18th. HC Wainwright downgraded Eyenovia from a “buy” rating to a “neutral” rating and cut their price target for the company from $12.00 to $2.00 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. Finally, William Blair reissued a “market perform” rating on shares of Eyenovia in a report on Friday, November 15th.

Eyenovia Company Profile

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.