IRIDEX (NASDAQ:IRIX) Research Coverage Started at StockNews.com

Research analysts at StockNews.com began coverage on shares of IRIDEX (NASDAQ:IRIX) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

IRIDEX Stock Performance

Shares of IRIX stock opened at $3.18 on Thursday. The stock’s 50-day simple moving average is $2.76 and its 200-day simple moving average is $2.71. The firm has a market capitalization of $51.68 million, a PE ratio of -5.39 and a beta of 0.82. IRIDEX has a fifty-two week low of $1.31 and a fifty-two week high of $3.65.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. AMH Equity Ltd increased its holdings in shares of IRIDEX by 92.6% in the third quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock valued at $1,618,000 after purchasing an additional 306,282 shares during the period. Clayton Partners LLC acquired a new position in shares of IRIDEX in the first quarter valued at about $58,000. State Street Corp increased its holdings in shares of IRIDEX by 9.7% in the first quarter. State Street Corp now owns 44,718 shares of the medical equipment provider’s stock valued at $207,000 after purchasing an additional 3,956 shares during the period. Mackenzie Financial Corp acquired a new stake in IRIDEX during the first quarter worth about $56,000. Finally, Dimensional Fund Advisors LP grew its holdings in IRIDEX by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock worth $1,115,000 after acquiring an additional 9,361 shares during the period. 20.10% of the stock is owned by institutional investors and hedge funds.

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.