IRIDEX (NASDAQ:IRIX) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

IRIDEX Corporation (NASDAQ:IRIX)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.19 and traded as high as $1.48. IRIDEX shares last traded at $1.41, with a volume of 73,110 shares.

Analyst Upgrades and Downgrades

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

IRIDEX Stock Performance

The business has a 50-day moving average price of $1.30 and a 200-day moving average price of $1.19. 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 firm has a market capitalization of $24.24 million, a price-to-earnings ratio of -4.70 and a beta of 0.70.

Institutional Investors Weigh In On IRIDEX

Large investors have recently modified their holdings of the business. Thompson Davis & CO. Inc. acquired a new position in shares of IRIDEX during the fourth quarter valued at about $32,000. Jane Street Group LLC increased its stake in IRIDEX by 93.9% during the 4th quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 15,377 shares in the last quarter. Susquehanna International Group LLP raised its holdings in shares of 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. Apexium Financial LP lifted its stake in shares of IRIDEX by 53.0% during the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock worth $116,000 after buying an additional 34,834 shares during the period. Finally, Citadel Advisors LLC grew its holdings in shares of IRIDEX by 62.7% during the third 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. Hedge funds and other institutional investors own 20.10% of the company’s stock.

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.