IRIDEX Co. (NASDAQ:IRIX) Short Interest Up 8.7% in June

IRIDEX Co. (NASDAQ:IRIX) was the recipient 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. Based on an average daily trading volume, of 38,600 shares, the days-to-cover ratio is currently 8.2 days. Currently, 2.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IRIDEX stock. AMH Equity Ltd increased its stake in shares of IRIDEX Co. (NASDAQ:IRIX) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,400 shares of the medical equipment provider’s stock after acquiring an additional 60,400 shares during the quarter. IRIDEX comprises approximately 1.3% of AMH Equity Ltd’s holdings, making the stock its 20th largest holding. AMH Equity Ltd owned 2.81% of IRIDEX worth $1,360,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IRIX. Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.00 price target on shares of IRIDEX in a research report on Wednesday, May 15th. StockNews.com initiated coverage on IRIDEX in a report on Thursday. They issued a “hold” rating for the company.

IRIDEX Trading Up 3.0 %

NASDAQ:IRIX opened at $2.07 on Thursday. The firm has a market capitalization of $33.64 million, a PE ratio of -3.09 and a beta of 0.83. IRIDEX has a 1 year low of $1.31 and a 1 year high of $3.65. The firm’s fifty day simple moving average is $2.45 and its 200 day simple moving average is $2.67.

IRIDEX (NASDAQ:IRIX) last issued 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). IRIDEX had a negative net margin of 21.92% and a negative return on equity of 105.42%. The business had revenue of $11.76 million during the quarter, compared to analyst estimates of $12.00 million. During the same period in the prior year, the business posted ($0.13) earnings per share. As a group, analysts anticipate that IRIDEX will post -0.49 EPS for the current fiscal year.

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.