IRIDEX Corporation (NASDAQ:IRIX) Short Interest Up 222.1% in April
by Amy Steele · The Cerbat GemIRIDEX Corporation (NASDAQ:IRIX – Get Free Report) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 104,611 shares, an increase of 222.1% from the March 31st total of 32,477 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 1,236,490 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Investors Weigh In On IRIDEX
Hedge funds have recently added to or reduced their stakes in the company. Apexium Financial LP lifted its position 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. Citadel Advisors LLC lifted its position in IRIDEX by 62.7% in the third quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock valued at $126,000 after purchasing an additional 42,202 shares during the period. Perkins Capital Management Inc. lifted its position in IRIDEX by 33.9% in the first quarter. Perkins Capital Management Inc. now owns 55,300 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 14,000 shares during the period. Thompson Davis & CO. Inc. lifted its position in IRIDEX by 66.5% in the first quarter. Thompson Davis & CO. Inc. now owns 47,444 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 18,944 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of IRIDEX by 93.9% during the 4th quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 15,377 shares in the last quarter. Institutional investors and hedge funds own 20.10% of the company’s stock.
IRIDEX Trading Up 1.0%
Shares of NASDAQ IRIX traded up $0.01 during midday trading on Friday, reaching $1.06. 52,452 shares of the company were exchanged, compared to its average volume of 680,971. IRIDEX has a 1 year low of $0.87 and a 1 year high of $1.65. The stock has a fifty day simple moving average of $1.22 and a 200 day simple moving average of $1.17. The stock has a market cap of $18.35 million, a P/E ratio of -4.08 and a beta of 0.75.
IRIDEX (NASDAQ:IRIX – Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The medical equipment provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates 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%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of IRIDEX in a report on Monday, December 29th. Alliance Global Partners assumed coverage on IRIDEX in a report on Thursday, February 5th. They set a “buy” rating on the stock. Finally, iA Financial set a $3.00 price target on IRIDEX in a report on Thursday, February 5th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, IRIDEX has an average rating of “Hold” and an average price target of $3.00.
Check Out Our Latest Research Report on IRIX
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.