IRIDEX Corporation (NASDAQ:IRIX) Stock Short Interest Report for October

IRIDEX Corporation (NASDAQ:IRIX) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 76,195 shares, a drop of 42.1% from the September 30th total of 131,655 shares. Based on an average trading volume of 1,950,126 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in IRIDEX by 6.7% in the 1st quarter. Renaissance Technologies LLC now owns 396,627 shares of the medical equipment provider’s stock valued at $401,000 after acquiring an additional 25,067 shares during the last quarter. Weber Capital Management LLC ADV bought a new stake in shares of IRIDEX in the 2nd quarter worth approximately $206,616. United Capital Financial Advisors LLC bought a new stake in shares of IRIDEX in the 2nd quarter worth approximately $41,000. Diversify Wealth Management LLC acquired a new stake in IRIDEX during the first quarter valued at approximately $35,000. Finally, Diversify Advisory Services LLC acquired a new stake in IRIDEX during the second quarter valued at approximately $30,000. Institutional investors own 20.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered IRIDEX from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.00.

IRIDEX Trading Up 2.6%

NASDAQ:IRIX traded up $0.02 during midday trading on Tuesday, hitting $0.74. 30,026 shares of the stock were exchanged, compared to its average volume of 223,959. IRIDEX has a one year low of $0.61 and a one year high of $1.65. The company has a market capitalization of $13.00 million, a price-to-earnings ratio of -3.70 and a beta of 0.67. The business has a 50-day moving average price of $0.72 and a two-hundred day moving average price of $1.04.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings results on Tuesday, August 18th. The medical equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The business had revenue of $12.57 million during the quarter, compared to analysts’ expectations of $13.59 million. Sell-side analysts forecast that IRIDEX will post -0.12 EPS for the current fiscal year.

IRIDEX Company Profile

IRIDEX Corporation (NASDAQ: IRIX) develops, manufactures and sells laser-based medical systems and disposable devices used in ophthalmic procedures. Its technologies are designed to help eye-care professionals treat glaucoma, retinal diseases and other conditions affecting vision.

The company’s product portfolio includes the Cyclo Glaucoma Laser System, which uses MicroPulse and continuous-wave laser technology for glaucoma treatment, as well as laser systems such as the IRIDEX IQ series for retinal and photocoagulation procedures.