Institutional Investors Are Buying Iridex Corp (NASDAQ:IRIX)

April 23, 2018 - By Linda Rogers

IRIDEX Corporation (NASDAQ:IRIX) Logo

Sentiment for Iridex Corp (NASDAQ:IRIX)

Iridex Corp (NASDAQ:IRIX) institutional sentiment increased to 1.2 in Q4 2017. Its up 0.65, from 0.55 in 2017Q3. The ratio is more positive, as 12 hedge funds increased and started new holdings, while 10 decreased and sold holdings in Iridex Corp. The hedge funds in our partner’s database now own: 5.52 million shares, down from 5.63 million shares in 2017Q3. Also, the number of hedge funds holding Iridex Corp in their top 10 holdings decreased from 2 to 1 for a decrease of 1. Sold All: 5 Reduced: 5 Increased: 11 New Position: 1.

IRIDEX Corporation provides therapeutic based laser systems, delivery devices, and consumable instrumentation to treat sight-threatening eye diseases in ophthalmology. The company has market cap of $67.56 million. The firm offers laser consoles, such as Cyclo G6 laser system used for the treatment of glaucoma; IQ 532 and IQ 577 laser systems, which are used for the treatment of diabetic macular edema and other retinal diseases; and OcuLight TX, OcuLight SL, OcuLight SLx, OcuLight GL, and OcuLight GLx laser systems, which are used to treat proliferative diabetic retinopathy, macular holes, retinal tears, and detachments. It currently has negative earnings. It also provides delivery devices, including TxCell scanning laser delivery system that allows the physicians to perform multi-spot pattern scanning; Slit Lamp Adapter, which allows the physicians to utilize a standard slit lamp in diagnosis and treatment procedures; and TruFocus laser indirect ophthalmoscopes for use in procedures to treat peripheral retinal disorders.

The stock increased 1.40% or $0.08 during the last trading session, reaching $5.81. About 10,348 shares traded. IRIDEX Corporation (NASDAQ:IRIX) has declined 53.54% since April 23, 2017 and is downtrending. It has underperformed by 65.09% the S&P500.

Analysts await IRIDEX Corporation (NASDAQ:IRIX) to report earnings on May, 2. They expect $-0.33 EPS, down 106.25 % or $0.17 from last year’s $-0.16 per share. After $-0.44 actual EPS reported by IRIDEX Corporation for the previous quarter, Wall Street now forecasts -25.00 % EPS growth.

Paragon Associates & Paragon Associates Ii Joint Venture holds 7.92% of its portfolio in IRIDEX Corporation for 1.25 million shares. Acuta Capital Partners Llc owns 2.00 million shares or 2.88% of their US portfolio. Moreover, Lyon Street Capital Llc has 1.23% invested in the company for 483,760 shares. The Minnesota-based First Light Asset Management Llc has invested 0.66% in the stock. Perkins Capital Management Inc, a Minnesota-based fund reported 53,250 shares.

Since January 1, 0001, it had 1 buy, and 1 insider sale for $22,756 activity.

IRIDEX Corporation (NASDAQ:IRIX) Institutional Positions Chart

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