Weiss Ratings Reaffirms “Sell (E+)” Rating for IRIDEX (NASDAQ:IRIX)

IRIDEX (NASDAQ:IRIX)‘s stock had its “sell (e+)” rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

IRIDEX Stock Down 1.8%

IRIX opened at $1.09 on Wednesday. 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 business has a 50 day simple moving average of $1.25 and a 200-day simple moving average of $1.11. The stock has a market capitalization of $18.52 million, a P/E ratio of -3.30 and a beta of 0.59. IRIDEX has a 12 month low of $0.78 and a 12 month high of $1.95.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Tuesday, August 12th. The medical equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $13.57 million during the quarter, compared to analysts’ expectations of $13.10 million. IRIDEX had a negative return on equity of 386.93% and a negative net margin of 10.95%.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its position in shares of IRIDEX Corporation (NASDAQ:IRIX) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 518,541 shares of the medical equipment provider’s stock after purchasing an additional 17,420 shares during the quarter. AMH Equity Ltd owned 3.09% of IRIDEX worth $513,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 20.10% of the company’s stock.

About IRIDEX

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.