IRIDEX Co. (NASDAQ:IRIX) Short Interest Up 8.7% in June

IRIDEX Co. (NASDAQ:IRIX) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 317,500 shares, an increase of 8.7% from the May 31st total of 292,200 shares. Based on an average daily volume of 38,600 shares, the days-to-cover ratio is presently 8.2 days. Currently, 2.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IRIX shares. StockNews.com began coverage on IRIDEX in a report on Thursday. They set a “hold” rating for the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.00 price target on shares of IRIDEX in a research report on Wednesday, May 15th.

Institutional Trading of IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its position in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 456,400 shares of the medical equipment provider’s stock after buying an additional 60,400 shares during the period. IRIDEX comprises approximately 1.3% of AMH Equity Ltd’s holdings, making the stock its 20th biggest holding. AMH Equity Ltd owned about 2.81% of IRIDEX worth $1,360,000 at the end of the most recent quarter. 20.10% of the stock is currently owned by institutional investors.

IRIDEX Trading Up 3.0 %

Shares of NASDAQ IRIX opened at $2.07 on Thursday. The stock has a fifty day moving average price of $2.45 and a 200 day moving average price of $2.67. IRIDEX has a 12-month low of $1.31 and a 12-month high of $3.65. The company has a market cap of $33.64 million, a P/E ratio of -3.09 and a beta of 0.83.

IRIDEX (NASDAQ:IRIX) last posted its earnings results on Tuesday, May 14th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). The company had revenue of $11.76 million during the quarter, compared to analyst estimates of $12.00 million. IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. During the same quarter last year, the business posted ($0.13) EPS. On average, sell-side analysts forecast that IRIDEX will post -0.49 EPS for the current fiscal year.

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.