IRIDEX (NASDAQ:IRIX) Stock Price Crosses Above 200-Day Moving Average of $2.72

IRIDEX Co. (NASDAQ:IRIX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.72 and traded as high as $2.99. IRIDEX shares last traded at $2.96, with a volume of 61,139 shares traded.

Wall Street Analyst Weigh In

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

IRIDEX Trading Up 0.7 %

The business’s 50-day moving average price is $2.79 and its 200-day moving average price is $2.72. The stock has a market cap of $48.10 million, a PE ratio of -5.02 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $12.46 million during the quarter, compared to analysts’ expectations of $14.90 million. As a group, analysts predict that IRIDEX Co. will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd raised its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 637,103 shares of the medical equipment provider’s stock after purchasing an additional 306,282 shares during the quarter. IRIDEX comprises 2.1% of AMH Equity Ltd’s holdings, making the stock its 13th biggest position. AMH Equity Ltd owned approximately 3.93% of IRIDEX worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission. 20.10% of the stock is owned by institutional investors.

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.