StockNews.com Begins Coverage on IRIDEX (NASDAQ:IRIX)

StockNews.com initiated coverage on shares of IRIDEX (NASDAQ:IRIX) in a note issued to investors on Saturday. The firm set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Price Performance

NASDAQ IRIX opened at $1.22 on Friday. The company has a market cap of $20.48 million, a PE ratio of -1.82 and a beta of 0.74. IRIDEX has a 52-week low of $0.78 and a 52-week high of $3.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.85 and a current ratio of 1.54. The firm’s 50 day moving average price is $1.10 and its 200-day moving average price is $1.46.

IRIDEX (NASDAQ:IRIX) last announced its quarterly earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $12.70 million for the quarter, compared to the consensus estimate of $12.80 million. IRIDEX had a negative return on equity of 192.95% and a negative net margin of 22.79%.

Insider Buying and Selling

In other news, Director Beverly A. Huss purchased 25,900 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were acquired at an average cost of $1.22 per share, with a total value of $31,598.00. Following the completion of the acquisition, the director now owns 92,639 shares of the company’s stock, valued at $113,019.58. This trade represents a 38.81 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 27,875 shares of company stock worth $33,829 in the last 90 days. 7.30% of the stock is owned by corporate insiders.

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.