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

IRIDEX Co. (NASDAQ:IRIX) shares 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 changing hands.

Wall Street Analyst Weigh In

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

IRIDEX Price Performance

The stock has a market cap 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 50-day simple moving average of $1.66 and a two-hundred day simple moving average of $1.84.

IRIDEX (NASDAQ:IRIX) last issued its earnings results on Tuesday, November 12th. The medical equipment provider reported ($0.12) earnings per share for the quarter. The firm had revenue of $11.58 million for the quarter. IRIDEX had a negative return on equity of 192.95% and a negative net margin of 22.79%. During the same quarter last year, the firm 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.