IRIDEX Co. (NASDAQ:IRIX) Sees Significant Increase in Short Interest

IRIDEX Co. (NASDAQ:IRIXGet Free Report) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 61,200 shares, a growth of 13.3% from the August 15th total of 54,000 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 29,300 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. began coverage on shares of IRIDEX in a research note on Wednesday, September 13th. They issued a “buy” rating for the company. Stifel Nicolaus reduced their price objective on shares of IRIDEX from $3.00 to $2.00 in a research note on Friday, August 11th.

View Our Latest Stock Analysis on IRIX

Institutional Investors Weigh In On IRIDEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AMH Equity Ltd increased its position in IRIDEX by 1,123.5% during the 2nd quarter. AMH Equity Ltd now owns 330,821 shares of the medical equipment provider’s stock valued at $718,000 after purchasing an additional 303,781 shares during the period. Isthmus Partners LLC increased its position in IRIDEX by 13.5% during the 1st quarter. Isthmus Partners LLC now owns 378,818 shares of the medical equipment provider’s stock valued at $769,000 after purchasing an additional 45,026 shares during the period. Clayton Partners LLC purchased a new stake in shares of IRIDEX in the 1st quarter worth about $58,000. Mackenzie Financial Corp purchased a new stake in shares of IRIDEX in the 1st quarter worth about $56,000. Finally, Dimensional Fund Advisors LP grew its position in shares of IRIDEX by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after buying an additional 9,361 shares during the period. 23.95% of the stock is currently owned by institutional investors.

IRIDEX Stock Performance

NASDAQ:IRIX traded down $0.04 during midday trading on Tuesday, reaching $2.10. 80,261 shares of the stock traded hands, compared to its average volume of 22,961. The company has a fifty day moving average of $1.82 and a 200 day moving average of $2.05. IRIDEX has a 12 month low of $1.31 and a 12 month high of $2.74. The stock has a market capitalization of $34.08 million, a P/E ratio of -4.46 and a beta of 1.19.

IRIDEX (NASDAQ:IRIXGet Free Report) last posted its quarterly earnings results on Thursday, August 10th. The medical equipment provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). IRIDEX had a negative net margin of 13.78% and a negative return on equity of 48.09%. The firm had revenue of $12.86 million for the quarter, compared to the consensus estimate of $14.23 million. On average, analysts predict that IRIDEX will post -0.48 EPS for the current fiscal year.


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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.

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