IRIDEX (NASDAQ:IRIX) Director Purchases $21,187.71 in Stock

IRIDEX Corporation (NASDAQ:IRIX) Director William Moore bought 21,843 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $0.97 per share, with a total value of $21,187.71. Following the completion of the purchase, the director directly owned 250,674 shares in the company, valued at approximately $243,153.78. This trade represents a 9.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

IRIDEX Trading Down 0.4%

Shares of NASDAQ IRIX traded down $0.00 during mid-day trading on Tuesday, hitting $0.94. The company’s stock had a trading volume of 53,731 shares, compared to its average volume of 88,552. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.96 and a quick ratio of 1.34. The stock has a market cap of $16.07 million, a price-to-earnings ratio of -2.83 and a beta of 0.56. The company’s fifty day simple moving average is $1.12 and its 200-day simple moving average is $1.12. IRIDEX Corporation has a one year low of $0.78 and a one year high of $1.95.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Tuesday, November 11th. The medical equipment provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $12.48 million for the quarter, compared to analyst estimates of $13.10 million. IRIDEX had a negative return on equity of 386.93% and a negative net margin of 10.95%.

Institutional Trading of IRIDEX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP grew its position in IRIDEX by 46.2% in the third quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 17,834 shares in the last quarter. Apexium Financial LP grew its holdings in shares of IRIDEX by 53.0% in the 3rd quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock valued at $116,000 after acquiring an additional 34,834 shares in the last quarter. Citadel Advisors LLC increased its position in shares of IRIDEX by 62.7% in the third quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock valued at $126,000 after acquiring an additional 42,202 shares during the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of IRIDEX in the second quarter valued at about $50,000. 20.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IRIDEX in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

IRIDEX Company Profile

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser systems, which are used for the treatment of retinal disorders; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.