IRIDEX (NASDAQ:IRIX) Stock Price Passes Above 200 Day Moving Average – Should You Sell?
by Kim Johansen · The Markets DailyShares of IRIDEX Corporation (NASDAQ:IRIX – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.19 and traded as high as $1.45. IRIDEX shares last traded at $1.40, with a volume of 43,923 shares trading hands.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on IRIX shares. iA Financial set a $3.00 target price on shares of IRIDEX in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of IRIDEX in a report on Monday, December 29th. Finally, Alliance Global Partners started coverage on shares of IRIDEX in a research report on Thursday, February 5th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.00.
Read Our Latest Analysis on IRIDEX
IRIDEX Trading Down 4.1%
The company has a quick ratio of 1.35, a current ratio of 1.94 and a debt-to-equity ratio of 62.29. The firm’s fifty day moving average is $1.36 and its two-hundred day moving average is $1.19. The firm has a market cap of $24.07 million, a P/E ratio of -4.67 and a beta of 0.70.
Hedge Funds Weigh In On IRIDEX
A number of institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC boosted its position in IRIDEX by 93.9% during the 4th quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 15,377 shares in the last quarter. Weber Capital Management LLC ADV purchased a new position in shares of IRIDEX in the 4th quarter valued at approximately $296,000. Thompson Davis & CO. Inc. bought a new stake in shares of IRIDEX during the fourth quarter valued at approximately $32,000. Apexium Financial LP grew 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 worth $116,000 after purchasing an additional 34,834 shares during the period. Finally, Susquehanna International Group LLP grew 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 worth $65,000 after purchasing an additional 17,834 shares during the period. 20.10% of the stock is owned by institutional investors.
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.