IRIDEX Co. (NASDAQ:IRIX) Short Interest Up 18.5% in April

IRIDEX Co. (NASDAQ:IRIXGet a rating) recorded a sharp increase in short-term interest in April. As of April 15, there was short interest totaling 81,300 shares, an 18.5% increase from the March 31 total of 68,600 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 39,800 shares, the day-to-cover ratio is currently 2.0 days.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley acquired a new stake in IRIDEX during Q1 worth approximately $40,000. Bank of New York Mellon Corp acquired a new stake in IRIDEX during Q3 worth approximately $266,000. Northern Trust Corp increased its equity stake in IRIDEX by 6.4% during the fourth quarter. Northern Trust Corp now owns 38,889 shares of the medical equipment supplier worth $237,000 after buying 2,347 more shares last quarter. State Street Corp increased its stake in IRIDEX shares by 53.5% during the 4th quarter. State Street Corp now owns 40,762 shares of the medical equipment supplier worth $249,000 after buying 14,200 more shares last quarter. Finally, Millennium Management LLC purchased a new stock position in IRIDEX during Q2 for a value of approximately $378,000. 22.10% of the shares are held by institutional investors.

Several research companies have recently published reports on IRIX. Zacks Investment Research upgraded IRIDEX from a “hold” rating to a “sell” rating in a Wednesday, March 16 research report. began covering IRIDEX in a research report on Wednesday, April 27. They set a “buy” rating for the company.

Shares of NASDAQ IRIX opened at $3.77 on Wednesday. IRIDEX has a 52-week low of $3.69 and a 52-week high of $9.46. The company has a 50-day moving average price of $4.33 and a 200-day moving average price of $5.62. The stock has a market capitalization of $59.88 million, a PE ratio of -11.09 and a beta of 1.23.

IRIDEX (NASDAQ:IRIXGet a rating) last released its quarterly earnings data on Thursday, March 10. The medical equipment supplier reported ($0.15) earnings per share for the quarter, missing analyst consensus estimates of ($0.11) by ($0.04). IRIDEX had a negative return on equity of 32.53% and a negative net margin of 9.69%. The company posted revenue of $15.25 million for the quarter, versus analyst estimates of $15.18 million. In the same period a year earlier, the company posted ($0.01) earnings per share. As a group, research analysts expect IRIDEX to post -0.5 EPS for the current year.

IRIDEX company profile (Get a rating)

IRIDEX Corporation, an ophthalmic medical technology company, provides therapeutic laser systems, delivery devices and consumable instruments to treat sight-threatening eye diseases in ophthalmology. It offers laser consoles, such as the Cyclo G6 laser system for the treatment of glaucoma; the IQ 532 and IQ 577 laser photocoagulation systems, which are used for the treatment of diabetic macular edema and other retinal diseases; and the OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL and OcuLight GLx laser photocoagulation systems which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears and detachments.

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