IRIDEX (NASDAQ:IRIX) Shares Cross Above Two Hundred Day Moving Average of $2.71

IRIDEX Co. (NASDAQ:IRIX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.71 and traded as high as $3.29. IRIDEX shares last traded at $3.18, with a volume of 22,152 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of IRIDEX in a report on Thursday. They set a “hold” rating on the stock.

IRIDEX Price Performance

The company has a market cap of $46.65 million, a P/E ratio of -4.86 and a beta of 0.82. The stock’s 50-day moving average is $2.77 and its two-hundred day moving average is $2.72.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). The company had revenue of $12.46 million for the quarter, compared to the consensus estimate of $14.90 million. IRIDEX had a negative net margin of 18.45% and a negative return on equity of 75.18%. On average, analysts predict that IRIDEX Co. will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in IRIDEX by 9.7% in the first quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock worth $207,000 after acquiring an additional 3,956 shares during the period. Dimensional Fund Advisors LP raised its position in IRIDEX by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after acquiring an additional 9,361 shares during the period. Mackenzie Financial Corp bought a new position in IRIDEX in the first quarter worth approximately $56,000. Clayton Partners LLC bought a new stake in shares of IRIDEX during the 1st quarter valued at $58,000. Finally, AMH Equity Ltd raised its position in shares of IRIDEX by 92.6% during the 3rd quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock valued at $1,618,000 after purchasing an additional 306,282 shares during the period. 20.10% of the stock is currently owned by institutional investors.

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.