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
$0.1150 -4.2%

Updated 21 Jul 2026 · Signals refresh every scan

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Active Signals

Bullish Signals

  • Watch out — volume is flowing out even as price holds up. Distribution pattern
  • Beating the Small Ords index — relative strength of 1.18, so it's outpacing the pack
  • Volatility is contracting — like a spring being compressed, breakouts often follow
  • Low cash runway (2 quarters) - dilution risk
  • Low P/S ratio (1.0x)
  • Strong revenue growth (+29%)
  • EPS estimates revised upward (+10pts)
  • Near 52-week low (19% of range)
  • Small-cap ($20-100M)
  • CANSLIM I: Institutional ownership (18%)
  • 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

  • Stochastic turning bearish from a high level — caution
  • 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
  • Long-term momentum is negative — down 36% over the past year
  • The bigger volume days are the down days — volume-weighted momentum is negative (-0.85%/day)
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Recent Catalysts

NONE Application for quotation of securities - EYE
NONE Notification of cessation of securities - EYE
NONE Notification of cessation of securities - EYE
Announcement tone +3pts

Recent ASX Announcements

2026-07-10 Application for quotation of securities - EYE
2026-06-25 Notification of cessation of securities - EYE
2026-06-25 Notification of cessation of securities - EYE

Key Metrics

$34.2M
Market Cap
206K
Avg Volume
0.7x
Vol Ratio
$0.10 — $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: -4
IInstitutional SponsorshippassInst: 18%
MMarket DirectionneutralNeutral

Sector: Healthcare

111 tickers in this sector

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