IRIDEX (NASDAQ:IRIX) Shares Pass Above 200-Day Moving Average – Here’s Why

IRIDEX Corporation (NASDAQ:IRIX)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.16 and traded as high as $1.6481. IRIDEX shares last traded at $1.49, with a volume of 206,329 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IRIDEX in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, IRIDEX currently has an average rating of “Sell”.

IRIDEX Trading Up 2.0%

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 business has a 50 day moving average price of $1.11 and a 200-day moving average price of $1.16. The firm has a market cap of $26.13 million, a price-to-earnings ratio of -5.07 and a beta of 0.53.

IRIDEX (NASDAQ:IRIX) last issued its earnings results on Wednesday, November 12th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $12.48 million during the quarter, compared to analyst estimates of $13.10 million. IRIDEX had a negative net margin of 10.04% and a negative return on equity of 1,204.74%.

Insiders Place Their Bets

In other news, Director William M. Moore acquired 28,157 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average price of $0.97 per share, for a total transaction of $27,312.29. Following the completion of the acquisition, the director owned 228,831 shares in the company, valued at $221,966.07. This trade represents a 14.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.40% of the stock is owned by corporate insiders.

Institutional Trading of IRIDEX

Large investors have recently modified their holdings of the stock. Susquehanna International Group LLP increased its position in shares of IRIDEX by 46.2% during the third quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock valued at $65,000 after acquiring an additional 17,834 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of IRIDEX in the fourth quarter valued at approximately $32,000. Apexium Financial LP boosted its holdings in shares of IRIDEX by 53.0% in the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock worth $116,000 after acquiring an additional 34,834 shares during the period. Finally, Citadel Advisors LLC raised its stake in shares of IRIDEX by 62.7% during the 3rd quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock valued at $126,000 after purchasing an additional 42,202 shares during the period. 20.10% of the stock is owned by institutional investors and hedge funds.

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.