IRIDEX (NASDAQ:IRIX) Stock Price Passes Above 200 Day Moving Average – Here’s Why

IRIDEX Corporation (NASDAQ:IRIX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.19 and traded as high as $1.48. IRIDEX shares last traded at $1.41, with a volume of 73,110 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IRIX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of IRIDEX in a research report on Monday, December 29th. Alliance Global Partners began coverage on shares of IRIDEX in a report on Thursday, February 5th. They set a “buy” rating for the company. Finally, iA Financial set a $3.00 price target on IRIDEX in a research report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, IRIDEX currently has a consensus rating of “Hold” and an average target price of $3.00.

IRIDEX Trading Up 2.2%

The company has a quick ratio of 1.35, a current ratio of 1.94 and a debt-to-equity ratio of 62.29. The company’s 50-day moving average is $1.30 and its 200 day moving average is $1.19. The company has a market cap of $24.24 million, a price-to-earnings ratio of -4.70 and a beta of 0.70.

Hedge Funds Weigh In On IRIDEX

Several institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its position in IRIDEX by 93.9% during the fourth quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 15,377 shares in the last quarter. Weber Capital Management LLC ADV purchased a new position in IRIDEX during the fourth quarter valued at $296,000. Thompson Davis & CO. Inc. acquired a new stake in shares of IRIDEX in the fourth quarter valued at about $32,000. Apexium Financial LP raised its position in shares of IRIDEX by 53.0% during the 3rd quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock worth $116,000 after purchasing an additional 34,834 shares during the last quarter. Finally, Susquehanna International Group LLP raised its position in shares of IRIDEX by 46.2% during 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.