IRIDEX Co. (NASDAQ:IRIX) Short Interest Update

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

Analysts Set New Price Targets

IRIX has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $2.00 target price on shares of IRIDEX in a research note on Wednesday, May 15th. StockNews.com initiated coverage on IRIDEX in a research note on Wednesday, June 26th. They issued a “hold” rating on the stock.

IRIDEX Price Performance

IRIDEX stock traded up $0.05 during trading on Wednesday, hitting $2.06. The stock had a trading volume of 7,985 shares, compared to its average volume of 32,714. IRIDEX has a 1 year low of $1.31 and a 1 year high of $3.65. The stock’s 50 day moving average is $2.47 and its two-hundred day moving average is $2.67.

IRIDEX (NASDAQ:IRIX) last posted its quarterly earnings data on Tuesday, May 14th. The medical equipment provider reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. The firm had revenue of $11.76 million during the quarter, compared to analysts’ expectations of $12.00 million. During the same quarter in the previous year, the company posted ($0.13) EPS. Sell-side analysts forecast that IRIDEX will post -0.49 EPS for the current year.

Hedge Funds Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. boosted its position in IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,300 shares of the medical equipment provider’s stock after purchasing an additional 5,200 shares during the period. Perkins Capital Management Inc. owned about 0.28% of IRIDEX worth $135,000 as of its most recent SEC filing. Institutional investors own 20.10% of the company’s stock.

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.