IRIDEX (NASDAQ:IRIX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX) in a research report released on Monday morning. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Trading Down 9.1%

IRIDEX stock opened at $1.00 on Monday. The stock has a market cap of $16.79 million, a P/E ratio of -1.49 and a beta of 0.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 0.85. IRIDEX has a 1 year low of $0.78 and a 1 year high of $2.81. The firm’s 50 day moving average price is $1.04 and its 200-day moving average price is $1.42.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings data on Tuesday, May 13th. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). IRIDEX had a negative net margin of 22.79% and a negative return on equity of 192.95%. The firm had revenue of $11.90 million for the quarter, compared to analysts’ expectations of $12.10 million.

Insider Activity at IRIDEX

In other IRIDEX news, Director Beverly A. Huss bought 25,900 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $1.22 per share, with a total value of $31,598.00. Following the completion of the acquisition, the director now owns 92,639 shares in the company, valued at $113,019.58. This trade represents a 38.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders acquired 38,639 shares of company stock valued at $47,607. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd lifted its position in IRIDEX Co. (NASDAQ:IRIX) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 518,541 shares of the medical equipment provider’s stock after acquiring an additional 17,420 shares during the quarter. AMH Equity Ltd owned 3.09% of IRIDEX worth $513,000 at the end of the most recent reporting period. Institutional investors 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.