William Moore Acquires 21,843 Shares of IRIDEX (NASDAQ:IRIX) Stock

IRIDEX Corporation (NASDAQ:IRIX) Director William Moore acquired 21,843 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $0.97 per share, for a total transaction of $21,187.71. Following the purchase, the director directly owned 250,674 shares in the company, valued at approximately $243,153.78. The trade was a 9.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

IRIDEX Stock Up 2.7%

IRIX stock opened at $0.95 on Thursday. The firm has a market cap of $16.36 million, a PE ratio of -2.88 and a beta of 0.56. IRIDEX Corporation has a 12 month low of $0.78 and a 12 month high of $1.95. The company has a debt-to-equity ratio of 62.29, a current ratio of 1.96 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $1.10 and a 200 day simple moving average of $1.12.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings results on Wednesday, November 12th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $12.48 million during the quarter, compared to the consensus estimate of $13.10 million. IRIDEX had a negative net margin of 10.95% and a negative return on equity of 386.93%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On IRIDEX

A number of hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC lifted its position in shares of IRIDEX by 62.7% during the 3rd quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock worth $126,000 after purchasing an additional 42,202 shares during the last quarter. Apexium Financial LP increased its position in IRIDEX by 53.0% in the 3rd quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock worth $116,000 after buying an additional 34,834 shares during the period. Thompson Davis & CO. Inc. bought a new position in IRIDEX in the 2nd quarter worth approximately $50,000. Finally, Susquehanna International Group LLP boosted its position in shares of IRIDEX by 46.2% in the third quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock valued at $65,000 after acquiring an additional 17,834 shares during the period. 20.10% of the stock is currently owned by institutional investors.

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.