Separately, Zacks Investment Research raised IRIDEX from a sell rating to a hold rating in a research report on Wednesday, January 29th.
IRIX stock traded down $0.13 during mid-day trading on Tuesday, hitting $3.36. The stock had a trading volume of 732 shares, compared to its average volume of 102,967. The company has a current ratio of 3.36, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. IRIDEX has a 1-year low of $1.50 and a 1-year high of $5.69. The company has a fifty day moving average of $2.76 and a 200 day moving average of $2.42. The stock has a market capitalization of $42.93 million, a price-to-earnings ratio of -4.47 and a beta of 0.90.
In related news, Director Robert Earle Grove purchased 14,600 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $2.00 per share, for a total transaction of $29,200.00. Corporate insiders own 5.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gabelli Funds LLC boosted its stake in shares of IRIDEX by 100.0% during the 3rd quarter. Gabelli Funds LLC now owns 20,000 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 10,000 shares in the last quarter. Perkins Capital Management Inc. boosted its stake in shares of IRIDEX by 20.9% during the 4th quarter. Perkins Capital Management Inc. now owns 53,600 shares of the medical equipment provider’s stock worth $120,000 after acquiring an additional 9,250 shares in the last quarter. Isthmus Partners LLC boosted its stake in shares of IRIDEX by 5.9% during the 4th quarter. Isthmus Partners LLC now owns 212,371 shares of the medical equipment provider’s stock worth $474,000 after acquiring an additional 11,926 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of IRIDEX by 7.5% during the 4th quarter. Renaissance Technologies LLC now owns 472,653 shares of the medical equipment provider’s stock worth $1,054,000 after acquiring an additional 33,101 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of IRIDEX by 119.2% during the 2nd quarter. Vanguard Group Inc. now owns 749,545 shares of the medical equipment provider’s stock worth $3,410,000 after acquiring an additional 407,600 shares in the last quarter. Institutional investors own 38.60% 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. The company 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 diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments.
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