IRIDEX (NASDAQ:IRIX) Shares Pass Below 200-Day Moving Average – What’s Next?

IRIDEX Co. (NASDAQ:IRIX) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.83 and traded as low as $1.71. IRIDEX shares last traded at $1.77, with a volume of 58,312 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on IRIDEX in a report on Saturday. They issued a “hold” rating on the stock.

IRIDEX Trading Down 3.3 %

The business’s fifty day simple moving average is $1.68 and its two-hundred day simple moving average is $1.83. The company has a current ratio of 1.54, a quick ratio of 0.85 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $29.45 million, a P/E ratio of -2.64 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Tuesday, November 12th. The medical equipment provider reported ($0.12) EPS for the quarter. IRIDEX had a negative net margin of 22.79% and a negative return on equity of 192.95%. The company had revenue of $11.58 million during the quarter. During the same quarter last year, the company posted ($0.11) earnings per share.

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.