IRIDEX (NASDAQ:IRIX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of IRIDEX (NASDAQ:IRIX) in a report issued on Saturday. The firm issued a hold rating on the medical equipment provider’s stock.

IRIDEX Price Performance

Shares of IRIX opened at $1.41 on Friday. The company has a 50-day simple moving average of $1.69 and a two-hundred day simple moving average of $2.03. The firm has a market capitalization of $23.28 million, a PE ratio of -2.14 and a beta of 0.80. IRIDEX has a one year low of $1.27 and a one year high of $3.65.

Institutional Investors Weigh In On IRIDEX

A hedge fund recently raised its stake in IRIDEX stock. Perkins Capital Management Inc. grew its holdings in shares of IRIDEX Co. (NASDAQ:IRIX) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,300 shares of the medical equipment provider’s stock after buying an additional 5,200 shares during the period. Perkins Capital Management Inc. owned 0.28% of IRIDEX worth $135,000 as of its most recent SEC filing. Institutional investors own 20.10% of the company’s stock.

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.