IRIDEX (NASDAQ:IRIX) Share Price Passes Above Two Hundred Day Moving Average of $2.71

IRIDEX Co. (NASDAQ:IRIX)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.71 and traded as high as $3.29. IRIDEX shares last traded at $3.18, with a volume of 22,152 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on IRIDEX in a research report on Thursday. They issued a “hold” rating on the stock.

IRIDEX Trading Down 2.8 %

The stock has a market capitalization of $51.68 million, a price-to-earnings ratio of -5.39 and a beta of 0.82. The firm has a 50-day moving average of $2.76 and a 200 day moving average of $2.71.

Institutional Trading of IRIDEX

Several large investors have recently added to or reduced their stakes in the business. AMH Equity Ltd increased its position in IRIDEX by 92.6% in the 3rd quarter. AMH Equity Ltd now owns 637,103 shares of the medical equipment provider’s stock valued at $1,618,000 after acquiring an additional 306,282 shares during the period. Dimensional Fund Advisors LP increased its position in shares of IRIDEX by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 240,729 shares of the medical equipment provider’s stock valued at $1,115,000 after purchasing an additional 9,361 shares during the period. State Street Corp increased its position in shares of IRIDEX by 9.7% during the 1st 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. Clayton Partners LLC acquired a new position in shares of IRIDEX during the 1st quarter valued at $58,000. Finally, Mackenzie Financial Corp acquired a new position in shares of IRIDEX during the 1st quarter valued at $56,000. 20.10% of the stock is currently owned by institutional investors and hedge funds.

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.