IRIDEX (NASDAQ:IRIX) Shares Pass Above 200 Day Moving Average of $2.72

IRIDEX Co. (NASDAQ:IRIX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.72 and traded as high as $2.99. IRIDEX shares last traded at $2.96, with a volume of 61,139 shares.

Analyst Ratings Changes

Separately, StockNews.com began coverage on IRIDEX in a research note on Friday. They issued a “hold” rating for the company.

IRIDEX Price Performance

The stock has a market capitalization of $46.64 million, a price-to-earnings ratio of -4.86 and a beta of 0.82. The firm has a fifty day moving average of $2.80 and a 200 day moving average of $2.72.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.13). The company had revenue of $12.46 million for the quarter, compared to analyst estimates of $14.90 million. IRIDEX had a negative return on equity of 75.18% and a negative net margin of 18.45%. Research analysts predict that IRIDEX Co. will post -0.37 EPS for the current year.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd lifted its position in IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 637,103 shares of the medical equipment provider’s stock after acquiring an additional 306,282 shares during the period. IRIDEX accounts for 2.1% of AMH Equity Ltd’s holdings, making the stock its 13th largest position. AMH Equity Ltd owned about 3.93% of IRIDEX worth $1,618,000 at the end of the most recent quarter. Institutional investors and hedge funds own 20.10% of the company’s stock.

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.