IRIDEX (NASDAQ:IRIX) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

IRIDEX Corporation (NASDAQ:IRIX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.16 and traded as high as $1.6481. IRIDEX shares last traded at $1.49, with a volume of 206,329 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of IRIDEX in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, IRIDEX has a consensus rating of “Sell”.

IRIDEX Trading Down 4.5%

The company has a current ratio of 1.94, a quick ratio of 1.35 and a debt-to-equity ratio of 62.29. The stock has a market cap of $25.61 million, a price-to-earnings ratio of -4.97 and a beta of 0.53. The company has a fifty day simple moving average of $1.10 and a 200-day simple moving average of $1.16.

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

Insider Activity

In other IRIDEX news, Director William M. Moore bought 28,157 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was 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 approximately $221,966.07. This represents a 14.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IRIX. Thompson Davis & CO. Inc. acquired a new stake in IRIDEX during the 4th quarter worth about $32,000. Susquehanna International Group LLP lifted its position 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 purchasing an additional 17,834 shares in the last quarter. Apexium Financial LP boosted its holdings 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 purchasing an additional 34,834 shares during the period. Finally, Citadel Advisors LLC boosted 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 worth $126,000 after purchasing an additional 42,202 shares during the period. 20.10% of the stock is owned by institutional investors and hedge funds.

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.