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

IRIDEX Co. (NASDAQ:IRIX)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.61 and traded as low as $0.93. IRIDEX shares last traded at $0.95, with a volume of 101,777 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on IRIDEX in a research note on Tuesday. They issued a “hold” rating on the stock.

IRIDEX Price Performance

The company’s 50 day simple moving average is $1.41 and its 200 day simple moving average is $1.60. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.54 and a quick ratio of 0.85. The stock has a market cap of $14.97 million, a P/E ratio of -1.34 and a beta of 0.94.

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.