IRIDEX Co. (NASDAQ:IRIX) Short Interest Up 9.9% in October

IRIDEX Co. (NASDAQ:IRIX) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 336,800 shares, an increase of 9.9% from the September 30th total of 306,500 shares. Based on an average daily trading volume, of 24,800 shares, the short-interest ratio is presently 13.6 days. Currently, 2.7% of the company’s shares are sold short.

Institutional Investors Weigh In On IRIDEX

An institutional investor recently raised its position in IRIDEX stock. AMH Equity Ltd grew its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 456,400 shares of the medical equipment provider’s stock after purchasing an additional 60,400 shares during the quarter. IRIDEX comprises about 1.3% of AMH Equity Ltd’s portfolio, making the stock its 20th biggest holding. AMH Equity Ltd owned about 2.81% of IRIDEX worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission. 20.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on IRIDEX in a research report on Thursday, October 24th. They set a “hold” rating on the stock.

IRIDEX Trading Down 4.4 %

Shares of NASDAQ IRIX traded down $0.07 during mid-day trading on Thursday, reaching $1.53. 24,132 shares of the company’s stock were exchanged, compared to its average volume of 29,922. The firm has a market capitalization of $24.87 million, a price-to-earnings ratio of -2.28 and a beta of 0.78. The business has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $2.14. IRIDEX has a twelve month low of $1.45 and a twelve month high of $3.65.

IRIDEX (NASDAQ:IRIX) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). IRIDEX had a negative net margin of 21.84% and a negative return on equity of 134.37%. The firm had revenue of $12.63 million during the quarter, compared to analyst estimates of $12.80 million. During the same period in the prior year, the business posted ($0.17) EPS.

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.