IRIDEX Corporation (IRIX) Analysis & Opinions from Experts

IRIDEX Corporation (NASDAQ: IRIX) is 168.92% higher on its value in year-to-date trading and has touched a low of $1.22 and a high of $6.25 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The IRIX stock was last observed hovering at around $5.64 in the last trading session, with the day’s gains setting it 1.11% off its average median price target of $6.50 for the next 12 months. It is also 3.57% off the consensus price target high of $7.00 offered by 2 analysts, but current levels are -12.5% lower than the price target low of $6.00 for the same period.

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Currently trading at $6.75, the stock is 30.52% and 78.13% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.58 million and changing 19.68% at the moment leaves the stock 177.62% off its SMA200. IRIX registered 102.70% gain for a year compared to 6-month gain of 237.50%. The firm has a 50-day simple moving average (SMA 50) of $4.72 and a 200-day simple moving average (SMA200) of $2.62.

The stock witnessed a 25.23% loss in the last 1 month and extending the period to 3 months gives it a 297.06%, and is 29.31% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 15.34% over the week and 12.36% over the month.

IRIDEX Corporation (IRIX) has around 94 employees, a market worth around $87.01M and $35.80M in sales. Profit margin for the company is -21.50%. Distance from 52-week low is 453.28% and 8.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-39.70%).

IRIDEX Corporation (IRIX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for IRIDEX Corporation (IRIX) is a “Buy”. 2 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

IRIDEX Corporation is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at -$0.1 with sales reaching $12.26M over the same period.The EPS is expected to grow by 38.80% this year, but quarterly earnings will post -16.50% year-over-year. Quarterly sales are estimated to grow 4.20% in year-over-year returns.

IRIDEX Corporation (IRIX) Top Institutional Holders

33 institutions hold shares in IRIDEX Corporation (IRIX), with 2.66M shares held by insiders accounting for 19.17% while institutional investors hold 58.95% of the company’s shares. The shares outstanding are 13.89M, and float is at 11.23M with Short Float at 1.65%. Institutions hold 47.65% of the Float.

The top institutional shareholder in the company is Paragon Associates & Paragon Associates II Joint Venture with over 1.32 million shares valued at $3.31 million. The investor’s holdings represent 9.50% of the IRIX Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 0.75 million shares valued at $1.88 million to account for 5.39% of the shares outstanding. The other top investors are Renaissance Technologies, LLC which holds 0.67 million shares representing 4.80% and valued at over $1.67 million, while Invenomic Capital Management, LP holds 3.60% of the shares totaling 0.5 million with a market value of $1.26 million.

IRIDEX Corporation (IRIX) Insider Activity

A total of 8 insider transactions have happened at IRIDEX Corporation (IRIX) in the last six months, with sales accounting for 6 and purchases happening 2 times. The most recent transaction is an insider purchase by Grove Robert Earle, the company’s Director. SEC filings show that Grove Robert Earle bought 15,125 shares of the company’s common stock on May 15 at a price of $1.68 per share for a total of $25446.0. Following the purchase, the insider now owns 67952.0 shares.

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IRIDEX Corporation (IRIX): Who are the competitors?

The company’s main competitors (and peers) include STAAR Surgical Company (STAA) that is trading 232.94% up over the past 12 months. Cutera Inc. (CUTR) is 36.74% up on the 1-year trading charts. Short interest in the company’s stock has fallen -122.11% from the last report on Dec 30, 2020 to stand at a total of 0.41 million short shares sold with a short interest ratio of 0.18.

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