IRIDEX (NASDAQ:IRIX) Share Price Passes Below 200-Day Moving Average – Here’s Why

IRIDEX Co. (NASDAQ:IRIX)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.84 and traded as low as $1.61. IRIDEX shares last traded at $1.67, with a volume of 24,028 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of IRIDEX in a research note on Friday. They set a “hold” rating for the company.

IRIDEX Price Performance

The stock has a market capitalization of $27.78 million, a price-to-earnings ratio of -2.49 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.85 and a current ratio of 1.54. The company has a fifty day simple moving average of $1.66 and a two-hundred day simple moving average of $1.84.

IRIDEX (NASDAQ:IRIX) last issued its quarterly earnings data on Tuesday, November 12th. The medical equipment provider reported ($0.12) earnings per share (EPS) for the quarter. IRIDEX had a negative net margin of 22.79% and a negative return on equity of 192.95%. The business had revenue of $11.58 million during the quarter. During the same period in the previous year, the business posted ($0.11) EPS.

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.