Tuesday, January 19, 2021

IRIDEX Corporation [IRIX] Stock trading around $4.13 per share: What’s Next?

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IRIDEX Corporation [NASDAQ: IRIX] stock went on an upward path that rose over 44.41% on Tuesday, amounting to a one-week price increase of more than 59.46%. The company report on January 12, 2021 that IRIDEX Announces Preliminary Operational and Financial Results for Fourth Quarter and Full Year 2020.

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IRIDEX Corporation (Nasdaq: IRIX) provided preliminary unaudited operational and financial results for the fourth quarter and full year ended January 2, 2021.


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Fourth Quarter 2020.

Over the last 12 months, IRIX stock rose by 79.57%.

The market cap for the stock reached $54.56 million, with 13.89 million shares outstanding and 11.23 million shares in the current float. Compared to the average trading volume of 230.58K shares, IRIX stock reached a trading volume of 10670870 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on IRIDEX Corporation [IRIX]:

ROTH Capital have made an estimate for IRIDEX Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 03, 2017. The new note on the price target was released on December 21, 2016, representing the official price target for IRIDEX Corporation stock. Previously, the target price had yet another raise to $11.50, while Singular Research analysts kept a Buy rating on IRIX stock.

The Average True Range (ATR) for IRIDEX Corporation is set at 0.39, with the Price to Sales ratio for IRIX stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 3.33, with the Price to Cash per share for the same quarter was set at 0.90.

IRIX Stock Performance Analysis:

IRIDEX Corporation [IRIX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 59.46. With this latest performance, IRIX shares gained by 116.23% in over the last four-week period, additionally plugging by 101.46% over the last 6 months – not to mention a rise of 79.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IRIX stock in for the last two-week period is set at 79.23, with the RSI for the last a single of trading hit 82.72, and the three-weeks RSI is set at 76.56 for IRIDEX Corporation [IRIX]. The present Moving Average for the last 50 days of trading for this stock 1.99, while it was recorded at 2.92 for the last single week of trading, and 1.97 for the last 200 days.

Insight into IRIDEX Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and IRIDEX Corporation [IRIX] shares currently have an operating margin of -20.66 and a Gross Margin at +41.25. IRIDEX Corporation’s Net Margin is presently recorded at -20.28.

Return on Total Capital for IRIX is now -32.12, given the latest momentum, and Return on Invested Capital for the company is -32.36. Return on Equity for this stock declined to -33.47, with Return on Assets sitting at -23.05. When it comes to the capital structure of this company, IRIDEX Corporation [IRIX] has a Total Debt to Total Equity ratio set at 14.13. Additionally, IRIX Total Debt to Total Capital is recorded at 12.38, with Total Debt to Total Assets ending up at 9.22. Long-Term Debt to Equity for the company is recorded at 7.91, with the Long-Term Debt to Total Capital now at 6.93.

Reflecting on the efficiency of the workforce at the company, IRIDEX Corporation [IRIX] managed to generate an average of -$93,755 per employee. Receivables Turnover for the company is 4.72 with a Total Asset Turnover recorded at a value of 1.14.IRIDEX Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.80.

IRIX Stock EPS

With the latest financial reports released by the company, IRIDEX Corporation posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 26.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IRIX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for IRIDEX Corporation go to 30.00%.

IRIDEX Corporation [IRIX] Insider Position Details

There are presently around $19 million, or 47.70% of IRIX stock, in the hands of institutional investors. The top three institutional holders of IRIX stocks are: PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE with ownership of 1,320,000, which is approximately 0% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 749,045 shares of the stock with an approximate value of $3.09 million in IRIX stocks shares; and WASATCH ADVISORS INC, currently with $2.6 million in IRIX stock with ownership of nearly -28.46% of the company’s market capitalization.

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Positions in IRIDEX Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 7 institutional holders increased their position in IRIDEX Corporation [NASDAQ:IRIX] by around 97,872 shares. Additionally, 9 investors decreased positions by around 309,487 shares, while 11 investors held positions by with 4,122,561 shares. The mentioned changes placed institutional holdings at 4,529,920 shares, according to the latest SEC report filing. IRIX stock had 0 new institutional investments in for a total of 0 shares, while 2 institutional investors sold positions of 32,901 shares during the same period.

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