IRIDEX (NASDAQ:IRIX) Director William Moore Buys 21,843 Shares of Stock

IRIDEX Corporation (NASDAQ:IRIX) Director William Moore bought 21,843 shares of the stock in a transaction on Monday, November 17th. The shares were acquired at an average cost of $0.97 per share, for a total transaction of $21,187.71. Following the completion of the transaction, the director directly owned 250,674 shares of the company’s stock, valued at approximately $243,153.78. The trade was a 9.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

IRIDEX Stock Performance

Shares of NASDAQ:IRIX traded down $0.00 during midday trading on Tuesday, hitting $0.94. The company’s stock had a trading volume of 53,731 shares, compared to its average volume of 88,552. The company has a debt-to-equity ratio of 62.29, a quick ratio of 1.34 and a current ratio of 1.96. The stock’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $1.12. The stock has a market capitalization of $16.07 million, a price-to-earnings ratio of -2.83 and a beta of 0.56. IRIDEX Corporation has a fifty-two week low of $0.78 and a fifty-two week high of $1.95.

IRIDEX (NASDAQ:IRIX) last released its earnings results on Tuesday, November 11th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). IRIDEX had a negative net margin of 10.95% and a negative return on equity of 386.93%. The business had revenue of $12.48 million during the quarter, compared to analyst estimates of $13.10 million.

Institutional Investors Weigh In On IRIDEX

Several large investors have recently made changes to their positions in IRIX. Susquehanna International Group LLP increased its position in shares of IRIDEX by 46.2% during the 3rd 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. Thompson Davis & CO. Inc. acquired a new position in IRIDEX in the second quarter valued at about $50,000. Apexium Financial LP grew its stake in 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 buying an additional 34,834 shares during the last quarter. Finally, Citadel Advisors LLC increased 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 buying an additional 42,202 shares in the last quarter. Institutional investors own 20.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IRIDEX in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, IRIDEX has a consensus rating of “Sell”.

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.