55MEDIUM

EYE

NOVA EYE FPO [EYE]
Nova Eye Medical Limited designs, develops, manufactures, markets, and sells surgical devices for the treatment of glaucoma in Australia, the United States, Europe, the Asia Pacific, and internationally. It also engaged in the commercialisation of the subthreshold nano-pulse ophthalmic laser; 2RT, a proprietary laser technology to treat patients in early and intermediate age-related macular degeneration for the treatment of retinal disease. The company offers iTrack, a glaucoma surgical device to reduce intraocular pressure in patients glaucoma; iTrack Advance; and Molteno3, a glaucoma drainage device to treat patients with severe or complex glaucoma. The company was formerly known as Ellex Medical Lasers Limited and changed its name to Nova Eye Medical Limited in July 2020. Nova Eye Medical Limited was incorporated in 1970 and is headquartered in Kent Town, Australia.
Healthcare · ASX Small Cap
$0.1250 -3.8%

Updated 26 Mar 2026 · Scores refresh every scan

Appeared in 2 consecutive scans→ Score +4First seen: 2026-02-25

Score Breakdown

Technical38
Catalyst50
Sentiment50
Fundamental63
Momentum60
Risk Gate45
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Active Signals

Bullish Signals

  • RSI drifting toward oversold territory — worth watching
  • Drifting lower — down 3.8% over the last 5 days
  • Low cash runway (2 quarters) - dilution risk
  • Low P/S ratio (1.1x)
  • Strong revenue growth (+29%)
  • EPS estimates revised upward (+10pts)
  • Small-cap ($20-100M)
  • CANSLIM I: Institutional ownership (18%)
  • Revenue declined -26% YoY
  • Sentiment is mixed — no strong consensus either way
  • Beneish M-Score -2.22 (grey zone -2.22 to -1.78): possible earnings manipulation
  • RBA hiking (-3pts)

Risk Signals

  • Trading below both moving averages — the trend is working against this one
  • Below the 200-day average — the long-term trend is still working against it
  • Deeply negative margins (-21%)
  • Not enough chatter to gauge sentiment — defaulting to neutral
  • Overseas neutral (-2pts, S&P500 neutral, VIX 25)
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Recent Catalysts

NONE Application for quotation of securities - EYE
NONE EYE Receives EU MDR Certification
NONE Investor Webinar Tuesday 3 March @11.30 AEDT
LOW Investor Presentation Half Year Results

Recent ASX Announcements

2026-03-10 Application for quotation of securities - EYE
2026-03-02 EYE Receives EU MDR Certification
2026-02-25 Investor Webinar Tuesday 3 March @11.30 AEDT
2026-02-25 Investor Presentation Half Year Results
2026-02-25 EYE Delivers Sales Growth and Improves Bottom Line PRICE SENSITIVE

Key Metrics

$37.0M
Market Cap
335K
Avg Volume
1.0x
Vol Ratio
$0.09 — $0.20
52-Week Range
N/A
Short Interest
N/A
Cash Runway
-42.4%
ROE
-21.3%
Profit Margin

CANSLIM Analysis

FactorRatingDetail
CCurrent EPSfailEPS Growth: 0%
AAnnual EarningsfailCAGR: 0%
NNew Highs / Catalystsneutral
SSupply & DemandneutralFloat: 82%
LLeader vs LaggardlaggardRS: -1
IInstitutional SponsorshippassInst: 18%
MMarket DirectionneutralNeutral

Sector: Healthcare

Ranked #4 of 117 · Sector avg: 46

View all Healthcare signals →
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