Key Points
- Director William Moore purchased 21,843 shares at an average price of $0.97 on Nov. 17, spending $21,187.71 and raising his stake to 250,674 shares (a 9.55% increase).
- IRIDEX missed quarterly expectations with EPS of ($0.09) vs. ($0.06) expected and revenue of $12.48M vs. $13.10M expected, reporting a negative net margin and negative return on equity.
- The stock has a small market cap (~$15.9M), an average analyst rating of "Sell" (Weiss: "sell (e+)"), and roughly 20% institutional ownership.
IRIDEX Corporation (NASDAQ:IRIX - Get Free Report) Director William Moore purchased 21,843 shares of the stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $0.97 per share, for a total transaction of $21,187.71. Following the transaction, the director directly owned 250,674 shares of the company's stock, valued at approximately $243,153.78. This represents a 9.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
IRIDEX Price Performance
IRIX opened at $0.93 on Wednesday. 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 capitalization of $15.93 million, a P/E ratio of -2.81 and a beta of 0.56. The stock has a 50-day moving average price of $1.11 and a 200-day moving average price of $1.12. IRIDEX Corporation has a 12-month low of $0.78 and a 12-month high of $1.95.
IRIDEX (NASDAQ:IRIX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 12th. The medical equipment provider reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). The firm had revenue of $12.48 million for the quarter, compared to analysts' expectations of $13.10 million. IRIDEX had a negative net margin of 10.95% and a negative return on equity of 386.93%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of IRIDEX in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".
View Our Latest Stock Report on IRIDEX
Hedge Funds Weigh In On IRIDEX
Institutional investors and hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. purchased a new position in shares of IRIDEX in the second quarter worth $50,000. Citadel Advisors LLC increased its position in shares of IRIDEX by 62.7% in the third quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider's stock valued at $126,000 after acquiring an additional 42,202 shares during the period. Apexium Financial LP increased its position in shares of IRIDEX by 53.0% in the third quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider's stock valued at $116,000 after acquiring an additional 34,834 shares during the period. Finally, Susquehanna International Group LLP raised its stake in shares of IRIDEX by 46.2% during 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 last quarter. 20.10% of the stock is currently owned by institutional investors.
IRIDEX Company Profile
(
Get Free Report)
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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