IRIDEX (NASDAQ:IRIX) Shares Pass Above 200 Day Moving Average of $2.72

IRIDEX Co. (NASDAQ:IRIX)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.72 and traded as high as $2.99. IRIDEX shares last traded at $2.96, with a volume of 61,139 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of IRIDEX in a report on Friday. They set a “hold” rating for the company.

IRIDEX Stock Down 3.0 %

The company’s fifty day moving average price is $2.80 and its 200-day moving average price is $2.72. The stock has a market capitalization of $46.64 million, a PE ratio of -4.86 and a beta of 0.82.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Tuesday, March 26th. The medical equipment provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.13). The firm had revenue of $12.46 million for the quarter, compared to the consensus estimate of $14.90 million. IRIDEX had a negative net margin of 18.45% and a negative return on equity of 75.18%. Equities research analysts anticipate that IRIDEX Co. will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd raised its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 92.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 637,103 shares of the medical equipment provider’s stock after acquiring an additional 306,282 shares during the quarter. IRIDEX makes up 2.1% of AMH Equity Ltd’s portfolio, making the stock its 13th largest holding. AMH Equity Ltd owned 3.93% of IRIDEX worth $1,618,000 as of its most recent SEC filing. 20.10% of the stock is owned by hedge funds and other institutional investors.

About IRIDEX

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.