IRIDEX Corporation (NASDAQ:IRIX) Short Interest Update

IRIDEX Corporation (NASDAQ:IRIX) saw a significant decline in short interest in April. As of April 30th, there was short interest totaling 56,463 shares, a decline of 46.0% from the April 15th total of 104,611 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 66,037 shares, the short-interest ratio is presently 0.9 days.

IRIDEX Trading Up 0.5%

IRIX traded up $0.01 during trading on Monday, hitting $1.02. The company’s stock had a trading volume of 56,910 shares, compared to its average volume of 203,058. The firm has a market capitalization of $17.66 million, a price-to-earnings ratio of -3.90 and a beta of 0.64. IRIDEX has a twelve month low of $0.87 and a twelve month high of $1.65. The business’s fifty day simple moving average is $1.12 and its 200 day simple moving average is $1.17.

IRIDEX (NASDAQ:IRIX) last released its quarterly earnings results on Thursday, March 26th. The medical equipment provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $14.72 million during the quarter, compared to the consensus estimate of $14.74 million. IRIDEX had a negative net margin of 8.42% and a negative return on equity of 1,204.74%.

Hedge Funds Weigh In On IRIDEX

A number of hedge funds have recently made changes to their positions in IRIX. Renaissance Technologies LLC raised its holdings in shares of IRIDEX by 6.7% in the 1st quarter. Renaissance Technologies LLC now owns 396,627 shares of the medical equipment provider’s stock valued at $401,000 after purchasing an additional 25,067 shares in the last quarter. Weber Capital Management LLC ADV acquired a new stake in IRIDEX during the 4th quarter worth $296,000. Citadel Advisors LLC raised its stake in IRIDEX by 62.7% during the 3rd quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock worth $126,000 after acquiring an additional 42,202 shares in the last quarter. Apexium Financial LP increased 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 purchasing an additional 34,834 shares during the period. Finally, Susquehanna International Group LLP increased its stake in IRIDEX by 46.2% in the third quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 17,834 shares during the period. Hedge funds and other institutional investors own 20.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IRIX shares. Alliance Global Partners started coverage on shares of IRIDEX in a research note on Thursday, February 5th. They issued a “buy” rating for the company. Weiss Ratings raised shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Finally, iA Financial set a $3.00 price objective on shares of IRIDEX in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.00.

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.