Eyenovia (NASDAQ:EYEN) Posts Quarterly Earnings Results

Eyenovia (NASDAQ:EYEN) released its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02, Zacks reports. Eyenovia had a negative return on equity of 547.46% and a negative net margin of 116,506.25%. During the same period in the previous year, the business earned ($0.18) earnings per share.

Eyenovia Price Performance

EYEN stock traded down $0.10 during trading on Wednesday, hitting $0.40. 2,414,594 shares of the stock traded hands, compared to its average volume of 1,198,235. Eyenovia has a one year low of $0.37 and a one year high of $2.57. The company has a 50 day simple moving average of $0.51 and a 200 day simple moving average of $0.72. The company has a current ratio of 0.46, a quick ratio of 0.27 and a debt-to-equity ratio of 3.72. The stock has a market cap of $25.75 million, a price-to-earnings ratio of -0.52 and a beta of 1.75.

Insider Transactions at Eyenovia

In other news, CEO Michael M. Rowe acquired 50,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was purchased 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 trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.10% of the company’s stock.

Analyst Upgrades and Downgrades

EYEN has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Eyenovia in a research note on Wednesday. William Blair raised Eyenovia to a “strong-buy” rating in a research report on Friday, August 30th.

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.