IRIDEX Corporation (NASDAQ:IRIX) Short Interest Update

IRIDEX Corporation (NASDAQ:IRIX) saw a significant decline in short interest in 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 company’s stock are short sold. Based on an average trading volume of 157,872 shares, the short-interest ratio is presently 0.9 days. Based on an average trading volume of 157,872 shares, the short-interest ratio is presently 0.9 days. Approximately 0.9% of the company’s stock are short sold.

Analysts Set New Price Targets

IRIX has been the topic of several recent research reports. Alliance Global Partners started coverage on IRIDEX in a report on Thursday, February 5th. They set a “buy” rating on the stock. iA Financial set a $3.00 price objective on IRIDEX in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of IRIDEX in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.00.

IRIDEX Stock Performance

Shares of NASDAQ IRIX traded down $0.03 during mid-day trading on Thursday, hitting $1.40. The company had a trading volume of 47,186 shares, compared to its average volume of 117,498. IRIDEX has a 12 month low of $0.78 and a 12 month high of $1.65. The firm has a market cap of $24.07 million, a P/E ratio of -4.67 and a beta of 0.70. The business’s 50-day simple moving average is $1.25 and its 200-day simple moving average is $1.19. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.94 and a quick ratio of 1.35.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings data on Wednesday, November 12th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $12.48 million for the quarter, compared to the consensus estimate of $13.10 million. IRIDEX had a negative net margin of 10.04% and a negative return on equity of 1,204.74%.

Insider Activity at IRIDEX

In other IRIDEX news, Director William M. Moore purchased 28,157 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $0.97 per share, for a total transaction of $27,312.29. Following the acquisition, the director owned 228,831 shares of the company’s stock, valued at $221,966.07. This trade represents a 14.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IRIDEX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Weber Capital Management LLC ADV acquired a new stake in shares of IRIDEX during the 4th quarter valued at about $296,000. Citadel Advisors LLC lifted its stake in IRIDEX by 62.7% during the third quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock worth $126,000 after purchasing an additional 42,202 shares during the period. Apexium Financial LP boosted its holdings in IRIDEX by 53.0% during 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. bought a new stake in shares of IRIDEX in the 2nd quarter valued at approximately $50,000. Finally, Susquehanna International Group LLP grew its stake 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 valued at $65,000 after purchasing an additional 17,834 shares during the period. 20.10% of the stock is owned by institutional investors.

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.