IRIDEX (NASDAQ:IRIX) Share Price Passes Above Two Hundred Day Moving Average of $2.71

IRIDEX Co. (NASDAQ:IRIX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.71 and traded as high as $3.29. IRIDEX shares last traded at $3.18, with a volume of 22,152 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of IRIDEX in a report on Thursday. They set a “hold” rating on the stock.

IRIDEX Trading Down 2.8 %

The company has a market capitalization of $51.68 million, a PE ratio of -5.39 and a beta of 0.82. The business’s 50-day simple moving average is $2.76 and its 200-day simple moving average is $2.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AMH Equity Ltd raised its holdings in shares of IRIDEX by 92.6% during the 3rd quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock worth $1,618,000 after acquiring an additional 306,282 shares during the period. Clayton Partners LLC purchased a new position in shares of IRIDEX during the 1st quarter worth $58,000. State Street Corp raised its holdings in shares of IRIDEX by 9.7% during the 1st quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after acquiring an additional 3,956 shares during the period. Mackenzie Financial Corp purchased a new position in shares of IRIDEX during the 1st quarter worth $56,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of IRIDEX by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after acquiring an additional 9,361 shares during the period. Hedge funds and other institutional investors own 20.10% of the company’s stock.

IRIDEX Company Profile

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as Cyclo G6 laser system for use in the treatment of glaucoma; IQ 532 and IQ 577 laser systems, which are used for the treatment of retinal disorders; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser photocoagulation systems that are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.