IRIDEX (NASDAQ:IRIX) Shares Cross Below 200 Day Moving Average – Here’s What Happened

IRIDEX Co. (NASDAQ:IRIX) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.61 and traded as low as $0.93. IRIDEX shares last traded at $0.95, with a volume of 101,777 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of IRIDEX in a research note on Tuesday. They issued a “hold” rating for the company.

IRIDEX Stock Performance

The firm has a market capitalization of $14.97 million, a P/E ratio of -1.34 and a beta of 0.94. The stock has a fifty day moving average of $1.41 and a 200-day moving average of $1.60. The company has a quick ratio of 0.85, a current ratio of 1.54 and a debt-to-equity ratio of 0.55.

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.