IRIDEX Corporation (NASDAQ:IRIX) Short Interest Down 46.0% in April

IRIDEX Corporation (NASDAQ:IRIX) was the recipient of a significant decline in short interest during the month of 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. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 66,037 shares, the days-to-cover ratio is presently 0.9 days.

IRIDEX Price Performance

NASDAQ IRIX remained flat at $1.01 on Friday. 20,713 shares of the company’s stock traded hands, compared to its average volume of 59,557. IRIDEX has a 12-month low of $0.87 and a 12-month high of $1.65. The company has a market cap of $17.57 million, a P/E ratio of -3.88 and a beta of 0.64. The business’s 50-day moving average price is $1.12 and its 200-day moving average price is $1.17.

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

Analysts Set New Price Targets

IRIX has been the topic of several recent research reports. Alliance Global Partners initiated coverage on shares of IRIDEX in a research report on Thursday, February 5th. They issued a “buy” rating on the stock. Weiss Ratings upgraded shares of IRIDEX from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Finally, iA Financial set a $3.00 price objective on shares of IRIDEX in a research report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.00.

Institutional Investors Weigh In On IRIDEX

Institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. acquired a new stake in shares of IRIDEX during the 4th quarter valued at $32,000. 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 valued at $36,000 after buying an additional 15,377 shares during the period. Diversify Wealth Management LLC acquired a new stake in shares of IRIDEX during the 1st quarter valued at $35,000. Perkins Capital Management Inc. lifted its stake in shares of IRIDEX by 33.9% in the 1st 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 last quarter. Finally, Susquehanna International Group LLP lifted its stake in shares of IRIDEX by 46.2% in the 3rd 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 last quarter. Institutional investors and hedge funds own 20.10% of the company’s stock.

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.