IRIDEX (NASDAQ:IRIX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of IRIDEX Corporation (NASDAQ:IRIX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.19 and traded as high as $1.45. IRIDEX shares last traded at $1.40, with a volume of 43,923 shares.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IRIX shares. Alliance Global Partners started coverage on shares of IRIDEX in a report on Thursday, February 5th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of IRIDEX in a research note on Monday, December 29th. Finally, iA Financial set a $3.00 price target on IRIDEX in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.00.

IRIDEX Trading Down 4.1%

The stock has a market capitalization of $24.07 million, a P/E ratio of -4.67 and a beta of 0.70. The company has a current ratio of 1.94, a quick ratio of 1.35 and a debt-to-equity ratio of 62.29. The business has a 50-day moving average price of $1.36 and a two-hundred day moving average price of $1.19.

Institutional Trading of IRIDEX

Large investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. bought a new stake in IRIDEX during the fourth quarter worth $32,000. Jane Street Group LLC lifted its position in shares of IRIDEX by 93.9% during the 4th quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 15,377 shares during the last quarter. Susquehanna International Group LLP boosted 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 in the last quarter. Apexium Financial LP boosted 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 in the last quarter. Finally, Citadel Advisors LLC grew its position 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 acquiring an additional 42,202 shares during the last quarter. Institutional investors and hedge funds 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.