IRIDEX (NASDAQ:IRIX) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of IRIDEX Corporation (NASDAQ:IRIX) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.11 and traded as low as $1.10. IRIDEX shares last traded at $1.17, with a volume of 175,936 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IRIDEX in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

IRIDEX Stock Performance

The stock has a fifty day simple moving average of $1.01 and a 200-day simple moving average of $1.11. The stock has a market cap of $20.11 million, a P/E ratio of -3.90 and a beta of 0.65. The company has a debt-to-equity ratio of 62.29, a quick ratio of 1.35 and a current ratio of 1.94.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings results on Wednesday, November 12th. The medical equipment provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $12.48 million during the quarter, compared to the consensus estimate of $13.10 million. IRIDEX had a negative net margin of 10.04% and a negative return on equity of 1,204.74%.

Insider Activity

In other IRIDEX news, Director William M. Moore acquired 28,157 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $0.97 per share, with a total value of $27,312.29. Following the completion of the transaction, the director directly owned 228,831 shares in the company, valued at $221,966.07. This trade represents a 14.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.40% of the stock is owned by company insiders.

Institutional Trading of IRIDEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. acquired a new position in shares of IRIDEX during the 2nd quarter worth approximately $50,000. Susquehanna International Group LLP raised its position in IRIDEX by 46.2% during the third quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 17,834 shares in the last quarter. Apexium Financial LP lifted its stake in IRIDEX by 53.0% in the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock valued at $116,000 after acquiring an additional 34,834 shares during the last quarter. Finally, Citadel Advisors LLC grew its position in shares of IRIDEX by 62.7% in the 3rd quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock valued at $126,000 after acquiring an additional 42,202 shares during the period. Institutional investors own 20.10% of the company’s stock.

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.