IRIDEX (NASDAQ:IRIX) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

IRIDEX Corporation (NASDAQ:IRIX)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.19 and traded as low as $0.95. IRIDEX shares last traded at $0.9803, with a volume of 60,577 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. iA Financial set a $3.00 price objective on shares of IRIDEX in a research report on Thursday, February 5th. Alliance Global Partners assumed coverage on IRIDEX in a research note on Thursday, February 5th. They set a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IRIDEX in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.00.

IRIDEX Price Performance

The business has a 50-day simple moving average of $1.35 and a two-hundred day simple moving average of $1.19. The stock has a market capitalization of $16.85 million, a P/E ratio of -3.77 and a beta of 0.75.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Thursday, March 26th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. IRIDEX had a negative return on equity of 1,204.74% and a negative net margin of 8.42%.The company had revenue of $14.72 million during the quarter, compared to analysts’ expectations of $14.74 million.

Institutional Trading of IRIDEX

Institutional investors and hedge funds have recently made changes to their positions in the business. Weber Capital Management LLC ADV bought a new position in shares of IRIDEX in the 4th quarter worth $296,000. Jane Street Group LLC increased its holdings in IRIDEX by 93.9% in the fourth quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 15,377 shares during the last quarter. Citadel Advisors LLC increased its holdings in 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 purchasing an additional 42,202 shares during the last quarter. Apexium Financial LP lifted its stake in IRIDEX by 53.0% in the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock valued at $116,000 after buying an additional 34,834 shares during the period. Finally, Susquehanna International Group LLP lifted its stake 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 buying an additional 17,834 shares during the period. 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.