Short Interest in IRIDEX Corporation (NASDAQ:IRIX) Declines By 49.0%

IRIDEX Corporation (NASDAQ:IRIX) saw a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 137,748 shares, a decline of 49.0% from the January 15th total of 270,157 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 157,872 shares, the short-interest ratio is presently 0.9 days. Based on an average daily volume of 157,872 shares, the short-interest ratio is presently 0.9 days. Approximately 0.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

IRIX has been the subject of a number of research reports. Alliance Global Partners began coverage on shares of IRIDEX in a report on Thursday, February 5th. They set a “buy” rating for the company. iA Financial set a $3.00 price objective on IRIDEX in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IRIDEX in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.00.

IRIDEX Price Performance

Shares of IRIX remained flat at $1.38 during mid-day trading on Friday. The stock had a trading volume of 40,257 shares, compared to its average volume of 112,318. The company has a market cap of $23.72 million, a P/E ratio of -4.60 and a beta of 0.70. The company has a 50-day moving average price of $1.27 and a two-hundred day moving average price of $1.19. The company has a debt-to-equity ratio of 62.29, a quick ratio of 1.35 and a current ratio of 1.94. IRIDEX has a one year low of $0.78 and a one year high of $1.65.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings data on Wednesday, November 12th. 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 1,204.74% and a negative net margin of 10.04%.

Institutional Investors Weigh In On IRIDEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Weber Capital Management LLC ADV purchased a new position in shares of IRIDEX during the 4th quarter valued at $296,000. Citadel Advisors LLC boosted 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 purchasing an additional 42,202 shares during the last quarter. Apexium Financial LP grew 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 purchasing an additional 34,834 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in IRIDEX in the 2nd quarter worth about $50,000. Finally, Susquehanna International Group LLP increased its position in 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 purchasing an additional 17,834 shares during the last quarter. Hedge funds and other institutional investors own 20.10% of the company’s stock.

IRIDEX Company Profile

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.