IRIDEX (NASDAQ:IRIX) Stock Price Passes 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 $1.09. IRIDEX shares last traded at $1.13, with a volume of 247,837 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of IRIDEX in a research report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

IRIDEX Price Performance

The firm has a market capitalization of $19.20 million, a P/E ratio of -3.42 and a beta of 0.59. The company has a current ratio of 1.96, a quick ratio of 1.34 and a debt-to-equity ratio of 62.29. The firm has a 50 day moving average price of $1.26 and a 200-day moving average price of $1.11.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings results on Tuesday, August 12th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $13.57 million for the quarter, compared to analyst estimates of $13.10 million. IRIDEX had a negative return on equity of 386.93% and a negative net margin of 10.95%.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently bought a new stake in IRIDEX stock. Thompson Davis & CO. Inc. purchased a new stake in shares of IRIDEX Corporation (NASDAQ:IRIX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,726 shares of the medical equipment provider’s stock, valued at approximately $50,000. Thompson Davis & CO. Inc. owned approximately 0.33% of IRIDEX as of its most recent filing with the Securities & Exchange Commission. 20.10% of the stock is owned by institutional investors.

IRIDEX Company Profile

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.