IRIDEX Corporation (NASDAQ:IRIX) Short Interest Update

IRIDEX Corporation (NASDAQ:IRIX) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 32,477 shares, a drop of 31.5% from the March 15th total of 47,428 shares. Based on an average daily volume of 80,275 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On IRIDEX

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its holdings in IRIDEX by 93.9% in the fourth quarter. Jane Street Group LLC now owns 31,758 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 15,377 shares during the period. Apexium Financial LP grew 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 valued at $116,000 after purchasing an additional 34,834 shares during the period. Susquehanna International Group LLP lifted 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 buying an additional 17,834 shares in the last quarter. Citadel Advisors LLC increased its position in shares of IRIDEX by 62.7% during the third quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock worth $126,000 after acquiring an additional 42,202 shares in the last quarter. Finally, Weber Capital Management LLC ADV acquired a new position in IRIDEX during the 4th quarter valued at about $296,000. 20.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IRIX. iA Financial set a $3.00 target price on IRIDEX in a research note on Thursday, February 5th. Alliance Global Partners initiated coverage on shares of IRIDEX in a research note on Thursday, February 5th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of IRIDEX in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IRIDEX has a consensus rating of “Hold” and an average price target of $3.00.

IRIDEX Stock Performance

Shares of NASDAQ:IRIX traded up $0.01 during mid-day trading on Wednesday, reaching $1.04. 63,785 shares of the company’s stock were exchanged, compared to its average volume of 672,057. The business’s fifty day moving average price is $1.27 and its 200-day moving average price is $1.18. IRIDEX has a twelve month low of $0.87 and a twelve month high of $1.65. The firm has a market capitalization of $18.00 million, a price-to-earnings ratio of -4.00 and a beta of 0.75.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Thursday, March 26th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. IRIDEX had a negative return on equity of 1,204.74% and a negative net margin of 8.42%.The company had revenue of $14.72 million during the quarter, compared to the consensus estimate of $14.74 million.

About IRIDEX

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.