IRIDEX (NASDAQ:IRIX) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

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 $1.20 and traded as low as $0.9152. IRIDEX shares last traded at $0.9256, with a volume of 57,581 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of IRIDEX from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.00.

IRIDEX Stock Performance

The stock’s 50-day simple moving average is $1.09 and its two-hundred day simple moving average is $1.20. The stock has a market cap of $15.93 million, a price-to-earnings ratio of -4.82 and a beta of 0.63.

IRIDEX (NASDAQ:IRIX) last announced its earnings results on Tuesday, May 19th. The medical equipment provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.04. The business had revenue of $11.80 million for the quarter, compared to the consensus estimate of $11.91 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IRIX. Perkins Capital Management Inc. lifted its position in shares of IRIDEX by 33.9% in the 1st quarter. Perkins Capital Management Inc. now owns 55,300 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 14,000 shares during the period. Jane Street Group LLC increased its position in shares of IRIDEX by 93.9% during the fourth quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 15,377 shares during the period. Susquehanna International Group LLP raised its stake 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 purchasing an additional 17,834 shares in the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of IRIDEX by 66.5% in the first quarter. Thompson Davis & CO. Inc. now owns 47,444 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 18,944 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in IRIDEX by 6.7% in the first quarter. Renaissance Technologies LLC now owns 396,627 shares of the medical equipment provider’s stock worth $401,000 after purchasing an additional 25,067 shares during the period. Institutional investors own 20.10% of the company’s stock.

IRIDEX Company Profile

IRIDEX Corporation (NASDAQ: IRIX) is a medical technology company specializing in the development, manufacturing and commercialization of innovative ophthalmic laser and imaging systems. The company’s offerings focus on energy-based therapies designed to treat retinal vascular disorders, glaucoma and other ocular conditions. IRIDEX’s portfolio includes laser photocoagulation platforms, micro-pulse laser technology, and related consumable devices for use by ophthalmologists and retina specialists.

The company’s flagship products include the Cyclo G6 Glaucoma Laser System, which delivers precise, controlled micro-pulse laser therapy for patients with refractory glaucoma, and the IQ 532 Retina Laser System, designed to support minimally invasive laser treatments for diabetic retinopathy and age-related macular degeneration.