Eyenovia Inc. (EYEN): Technical Analysis Suggests You Should Hold

The stock of Eyenovia Inc. (NASDAQ:EYEN) increased by increased by $0.61 on Friday to finish at $6.58, up 10.22 percent. The last five days have seen an average of 686,520 shares of common stock traded. 7 times new highs were reached in the current year, with a gain of $0.52. The average number of shares traded over the last 20 days was 441,105, while the average volume over the last 50 days totaled 277,754.

EYEN stock appreciated 40.00% since last month. On 09/23/21, the company’s shares reached a one-month low of $4.60. The stock touched a high of $7.72 on 02/10/21, after rallying from a low of $3.16 in 52 weeks. The price of EYEN stock has risen by 8.58% or $0.52 this year, reaching a new high 7 times. Still, the stock price is down -14.77% from the 52-week high.


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Insider Transactions

There have been 42 days since Eyenovia Inc. (EYEN) last reported insider trading activity on Sep 13. On Sep 13, Chief Operating Officer Rowe Michael M acquired 1,500 shares at $4.40 each. This transaction resulted in the insider spending $6,600. On Aug 19, Grant Stuart M. added 50,000 shares at a price of US$3.98. After the transaction, the insider now owns 4,389,783 shares. 10% Owner Grant Stuart M. had earlier bought 924 shares on Aug 18 for $3.93 a share. The transaction was completed for $3,635.

Valuation Metrics

Beta for the stock is 2.23. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 25.82, the price-to-book (PB) ratio of 18.80.

For the three months ended June 29, Eyenovia Inc.’s quick ratio was 2.00, while its current ratio was 2.00, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.78, and the total debt to equity ratio is 0.89. As far as profitability goes, gross margin for the trailing twelve months is 60.00% percent. Based on annual data, it had gross profit of $1.2 million and revenue of $2.0 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EYEN’s return on assets (ROA) during the last 12 months has been -65.40%. There was a -125.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -141.60%. ROE has averaged -68.79 in the past year for the broader industry.

Earnings Surprise

According to Eyenovia Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.0 million, while revenues rose by 100.0% to $2.0 million. It was predicted that Eyenovia Inc.’s quarterly earnings would be -$0.19, but it ended up being -$0.23, beating the consensus by 17.40%. EBITDA was -$4.71 million for the quarter. At the end of Eyenovia Inc.’s most recent quarter ended June 29, its liabilities totaled 21.59 million, while its total debt was $1.09 million. Equity owned by shareholders amounts to $25.95 million.

Technical Picture

Here’s a quick look at Eyenovia Inc.’s (EYEN) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 82.07%, suggesting the stock is Overbought, with a 51.09% historical volatility rate.

The stochastic %K and %D were 87.73% and 80.66% respectively, while the average true range (ATR) was 0.39. Based on the 14-day stochastic reading of 96.71%, the RSI (14) reading is 75.64%. On the 9-day MACD Oscillator, the stock is at 0.44, and the 14-day reading is at 0.47.

Analyst Ratings

In its analyst report released on March 01, 2021, Northland Capital began covering Eyenovia Inc. (NASDAQ: EYEN). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned Eyenovia Inc. (EYEN) an Buy rating. EYEN is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.

What is EYEN’s price target for the next 12 months?

The current consensus forecast for the stock is between $12.00 and $19.00, with a median target price of $16.00. In analyzing these forecasts, the average price target given by analysts for Eyenovia Inc. (EYEN) is $15.67.

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