IRIDEX Corporation (NASDAQ:IRIX) Short Interest Down 46.0% in April

IRIDEX Corporation (NASDAQ:IRIX) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 56,463 shares, a decline of 46.0% from the April 15th total of 104,611 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 66,037 shares, the short-interest ratio is presently 0.9 days.

IRIDEX Stock Performance

Shares of NASDAQ IRIX remained flat at $1.01 during mid-day trading on Friday. 20,713 shares of the company were exchanged, compared to its average volume of 59,557. IRIDEX has a fifty-two week low of $0.87 and a fifty-two week high of $1.65. The firm has a market capitalization of $17.57 million, a price-to-earnings ratio of -3.88 and a beta of 0.64. The company has a fifty day moving average of $1.12 and a two-hundred day moving average of $1.17.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings data on Thursday, March 26th. The medical equipment provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. IRIDEX had a negative net margin of 8.42% and a negative return on equity of 1,204.74%. The business had revenue of $14.72 million for the quarter, compared to analyst estimates of $14.74 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. acquired a new position in shares of IRIDEX during the fourth quarter valued at approximately $32,000. Diversify Wealth Management LLC acquired a new position in IRIDEX in the first quarter worth approximately $35,000. Jane Street Group LLC grew its position in IRIDEX by 93.9% in the fourth 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. Perkins Capital Management Inc. grew its position in IRIDEX by 33.9% in the first quarter. Perkins Capital Management Inc. now owns 55,300 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 14,000 shares during the last quarter. Finally, Susquehanna International Group LLP grew its position 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 worth $65,000 after buying an additional 17,834 shares during the last quarter. Institutional investors and hedge funds own 20.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IRIX shares. Weiss Ratings raised IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Alliance Global Partners started coverage on IRIDEX in a report on Thursday, February 5th. They set a “buy” rating on the stock. Finally, iA Financial set a $3.00 price target on IRIDEX in a report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, IRIDEX currently has an average rating of “Hold” and an average price target of $3.00.

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.