IRIDEX (NASDAQ:IRIX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a report published on Wednesday. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Price Performance

IRIDEX stock opened at $1.64 on Wednesday. The company has a market capitalization of $26.65 million, a price-to-earnings ratio of -2.45 and a beta of 0.78. IRIDEX has a 12-month low of $1.45 and a 12-month high of $3.65. The firm’s fifty day moving average price is $1.84 and its 200 day moving average price is $2.24.

IRIDEX (NASDAQ:IRIX) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). IRIDEX had a negative return on equity of 134.37% and a negative net margin of 21.84%. The business had revenue of $12.63 million for the quarter, compared to analyst estimates of $12.80 million. During the same period last year, the company posted ($0.17) earnings per share. Analysts forecast that IRIDEX will post -0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. increased its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,300 shares of the medical equipment provider’s stock after buying an additional 5,200 shares during the period. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 at the end of the most recent reporting period. 20.10% of the stock is currently owned by institutional investors and hedge funds.

About IRIDEX

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.