IRIDEX Co. (NASDAQ:IRIX – Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 313,600 shares, a decline of 5.2% from the April 15th total of 330,800 shares. Based on an average daily volume of 34,600 shares, the days-to-cover ratio is currently 9.1 days. Currently, 2.6% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on IRIX shares. Stifel Nicolaus restated a “hold” rating and set a $2.00 target price on shares of IRIDEX in a report on Wednesday. StockNews.com started coverage on shares of IRIDEX in a research note on Sunday, May 12th. They set a “hold” rating on the stock.
Read Our Latest Report on IRIDEX
Hedge Funds Weigh In On IRIDEX
IRIDEX Stock Performance
NASDAQ:IRIX opened at $2.66 on Friday. IRIDEX has a 12-month low of $1.31 and a 12-month high of $3.65. The stock’s 50 day moving average price is $2.87 and its two-hundred day moving average price is $2.70.
IRIDEX (NASDAQ:IRIX – Get Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The medical equipment provider reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. The business had revenue of $11.76 million during the quarter, compared to the consensus estimate of $12.00 million. During the same quarter last year, the company posted ($0.13) EPS. Equities analysts predict that IRIDEX will post -0.49 EPS for the current fiscal year.
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.
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