IRIDEX (NASDAQ:IRIX) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a report issued on Friday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Price Performance

NASDAQ IRIX opened at $2.96 on Friday. The stock has a market capitalization of $48.10 million, a PE ratio of -5.02 and a beta of 0.82. IRIDEX has a 1 year low of $1.31 and a 1 year high of $3.65. The business’s 50-day moving average is $2.79 and its 200 day moving average is $2.72.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.13). IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. The business had revenue of $12.46 million during the quarter, compared to the consensus estimate of $14.90 million. As a group, equities research analysts anticipate that IRIDEX will post -0.37 earnings per share for the current year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd grew its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 637,103 shares of the medical equipment provider’s stock after purchasing an additional 306,282 shares during the period. IRIDEX makes up approximately 2.1% of AMH Equity Ltd’s holdings, making the stock its 13th largest position. AMH Equity Ltd owned approximately 3.93% of IRIDEX worth $1,618,000 as of its most recent SEC filing. Institutional investors and hedge funds own 20.10% of the company’s stock.

About IRIDEX

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.