Short Interest in IRIDEX Corporation (NASDAQ:IRIX) Increases By 291.8%

IRIDEX Corporation (NASDAQ:IRIX) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 148,311 shares, a growth of 291.8% from the August 15th total of 37,854 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 150,642 shares, the short-interest ratio is presently 1.0 days.

IRIDEX Price Performance

Shares of NASDAQ:IRIX opened at $0.66 on Monday. The company’s fifty day moving average price is $0.85 and its 200-day moving average price is $1.04. The firm has a market capitalization of $11.60 million, a price-to-earnings ratio of -3.30 and a beta of 0.62. IRIDEX has a one year low of $0.65 and a one year high of $1.65.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings data on Tuesday, August 18th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $12.57 million for the quarter, compared to the consensus estimate of $13.59 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 4th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Trading of IRIDEX

Several hedge funds and other institutional investors have recently bought and sold shares of IRIX. Citadel Advisors LLC grew its position in IRIDEX by 62.7% during 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. Susquehanna International Group LLP lifted its holdings in shares of IRIDEX by 46.2% in the 3rd quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 17,834 shares during the last quarter. Apexium Financial LP lifted 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 worth $116,000 after acquiring an additional 34,834 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of IRIDEX by 93.9% in the 4th quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 15,377 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its stake in shares of IRIDEX by 66.5% in the 1st quarter. Thompson Davis & CO. Inc. now owns 47,444 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 18,944 shares in the last quarter. Hedge funds and other institutional investors own 20.10% of the company’s stock.

About IRIDEX

IRIDEX Corporation (NASDAQ: IRIX) is a medical technology company specializing in the development, manufacturing and commercialization of innovative ophthalmic laser and imaging systems. The company’s offerings focus on energy-based therapies designed to treat retinal vascular disorders, glaucoma and other ocular conditions. IRIDEX’s portfolio includes laser photocoagulation platforms, micro-pulse laser technology, and related consumable devices for use by ophthalmologists and retina specialists.

The company’s flagship products include the Cyclo G6 Glaucoma Laser System, which delivers precise, controlled micro-pulse laser therapy for patients with refractory glaucoma, and the IQ 532 Retina Laser System, designed to support minimally invasive laser treatments for diabetic retinopathy and age-related macular degeneration.