IRIDEX Corporation (NASDAQ:IRIX) Short Interest Down 49.0% in January

IRIDEX Corporation (NASDAQ:IRIX) was the recipient of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 137,748 shares, a decrease of 49.0% from the January 15th total of 270,157 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average trading volume of 157,872 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 157,872 shares, the short-interest ratio is currently 0.9 days. Approximately 0.9% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, Director William M. Moore bought 28,157 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $0.97 per share, with a total value of $27,312.29. Following the transaction, the director owned 228,831 shares of the company’s stock, valued at approximately $221,966.07. This trade represents a 14.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 7.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IRIDEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRIX. Weber Capital Management LLC ADV acquired a new stake in IRIDEX during the fourth quarter valued at $296,000. Thompson Davis & CO. Inc. acquired a new stake in shares of IRIDEX during the 2nd quarter valued at about $50,000. Citadel Advisors LLC lifted its holdings 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 buying an additional 42,202 shares during the last quarter. Apexium Financial LP grew its stake in shares of IRIDEX by 53.0% in the 3rd quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock valued at $116,000 after buying an additional 34,834 shares in the last quarter. Finally, Susquehanna International Group LLP increased its holdings 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.

IRIDEX Price Performance

Shares of NASDAQ:IRIX traded down $0.03 on Thursday, reaching $1.40. 47,186 shares of the company traded hands, compared to its average volume of 117,498. The stock has a market capitalization of $24.07 million, a PE ratio of -4.67 and a beta of 0.70. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.94 and a quick ratio of 1.35. The company’s 50 day moving average is $1.25 and its 200-day moving average is $1.19. IRIDEX has a fifty-two week low of $0.78 and a fifty-two week high of $1.65.

IRIDEX (NASDAQ:IRIX) last announced 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). IRIDEX had a negative return on equity of 1,204.74% and a negative net margin of 10.04%.The company had revenue of $12.48 million for the quarter, compared to analyst estimates of $13.10 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IRIX shares. iA Financial set a $3.00 target price on IRIDEX in a research report on Thursday, February 5th. Alliance Global Partners started coverage on shares of IRIDEX in a research report on Thursday, February 5th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IRIDEX in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.00.

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.