IRIDEX (NASDAQ:IRIX) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Shares of IRIDEX Corporation (NASDAQ:IRIX) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.13 and traded as low as $1.05. IRIDEX shares last traded at $1.06, with a volume of 49,083 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IRIDEX in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, IRIDEX currently has an average rating of “Sell”.

IRIDEX Stock Down 3.2%

The firm has a 50-day simple moving average of $1.20 and a two-hundred day simple moving average of $1.13. The company has a current ratio of 1.96, a quick ratio of 1.34 and a debt-to-equity ratio of 62.29. The stock has a market cap of $18.01 million, a P/E ratio of -3.21 and a beta of 0.59.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings data on Tuesday, August 12th. The medical equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. IRIDEX had a negative return on equity of 386.93% and a negative net margin of 10.95%.The firm had revenue of $13.57 million for the quarter, compared to analyst estimates of $13.10 million.

Institutional Investors Weigh In On IRIDEX

An institutional investor recently bought a new position in IRIDEX stock. Thompson Davis & CO. Inc. acquired a new stake in shares of IRIDEX Corporation (NASDAQ:IRIX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 56,726 shares of the medical equipment provider’s stock, valued at approximately $50,000. Thompson Davis & CO. Inc. owned approximately 0.33% of IRIDEX as of its most recent SEC filing. Institutional investors and hedge funds own 20.10% of the company’s stock.

IRIDEX Company Profile

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.