IRIDEX Corporation (NASDAQ:IRIX – Get Free Report) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 76,195 shares, a decrease of 42.1% from the September 30th total of 131,655 shares. Based on an average daily volume of 1,950,126 shares, the short-interest ratio is presently 0.0 days. Currently, 0.5% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut shares of IRIDEX from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, IRIDEX has a consensus rating of “Hold” and a consensus target price of $3.00.
Get Our Latest Analysis on IRIX
IRIDEX Trading Down 1.7%
Shares of IRIX stock traded down $0.01 during trading hours on Friday, hitting $0.71. 15,218 shares of the company’s stock were exchanged, compared to its average volume of 1,090,033. The business’s 50 day simple moving average is $0.72 and its 200-day simple moving average is $1.04. The company has a market capitalization of $12.51 million, a PE ratio of -3.56 and a beta of 0.67. IRIDEX has a 12-month low of $0.61 and a 12-month high of $1.65.
IRIDEX (NASDAQ:IRIX – Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The medical equipment provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The company had revenue of $12.57 million during the quarter, compared to the consensus estimate of $13.59 million. Equities analysts anticipate that IRIDEX will post -0.12 EPS for the current year.
Institutional Investors Weigh In On IRIDEX
Hedge funds and other institutional investors have recently modified their holdings of the stock. United Capital Financial Advisors LLC acquired a new stake in shares of IRIDEX in the second quarter worth $41,000. Weber Capital Management LLC ADV acquired a new position in shares of IRIDEX during the second quarter valued at approximately $206,616. Diversify Advisory Services LLC acquired a new stake in IRIDEX in the 2nd quarter valued at about $30,000. Bank of New York Mellon Corp acquired a new position in IRIDEX in the second quarter worth approximately $29,000. Finally, Renaissance Technologies LLC raised its holdings in IRIDEX by 6.7% during the 1st quarter. Renaissance Technologies LLC now owns 396,627 shares of the medical equipment provider’s stock worth $401,000 after buying an additional 25,067 shares during the period. 20.10% of the stock is currently owned by institutional investors and hedge funds.
About IRIDEX
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.
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