IRIDEX Co. (NASDAQ:IRIX) Short Interest Update

IRIDEX Co. (NASDAQ:IRIX) was the target of a significant 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 company’s shares are short sold. Based on an average daily volume of 38,600 shares, the days-to-cover ratio is currently 8.2 days.

Wall Street Analyst Weigh In

IRIX has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a $2.00 price objective on shares of IRIDEX in a report on Wednesday, May 15th. StockNews.com began coverage on IRIDEX in a report on Wednesday, June 26th. They issued a “hold” rating for the company.

IRIDEX Stock Up 2.5 %

Shares of IRIDEX stock traded up $0.05 during trading hours on Wednesday, hitting $2.06. The company’s stock had a trading volume of 7,985 shares, compared to its average volume of 32,714. IRIDEX has a 12 month low of $1.31 and a 12 month high of $3.65. The stock has a 50 day moving average of $2.47 and a 200 day moving average of $2.67.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Tuesday, May 14th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.09). The business had revenue of $11.76 million during the quarter, compared to the consensus estimate of $12.00 million. IRIDEX had a negative return on equity of 105.42% and a negative net margin of 21.92%. During the same quarter last year, the company earned ($0.13) earnings per share. As a group, equities analysts predict that IRIDEX will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. boosted its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. 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 0.28% of IRIDEX worth $135,000 as of its most recent filing with the SEC. Hedge funds and other 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.