Iridex corp director William Moore buys $24,143 in common stock

Published 30/04/2025, 20:26
Iridex corp director William Moore buys $24,143 in common stock

William Moore, a director at Iridex Corp (NASDAQ:IRIX), recently acquired additional shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The medical technology company, currently valued at approximately $20 million, has seen its stock decline nearly 30% year-to-date, though InvestingPro analysis suggests the shares are currently undervalued. On April 28 and 29, Moore purchased a total of 19,710 shares at a weighted average price of $1.2067 per share, with prices ranging from $1.17 to $1.24. The total value of these purchases amounted to $24,143. Following these transactions, Moore’s direct ownership in Iridex totals 121,150 shares. Additionally, Moore holds indirect ownership of 69,300 shares through his spouse and 30,026 shares through a trust. According to InvestingPro data, while the company faces profitability challenges with negative EBITDA of $8 million, it maintains a moderate debt level and trades at an attractive revenue multiple. Discover 5 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.

In other recent news, IRIDEX Corporation reported its financial results for the fourth quarter of 2024, showing a net loss of $800,000 or $0.05 per share, aligning with market expectations. The company’s revenue for the quarter was $12.7 million, slightly exceeding forecasts and reflecting a 2% year-over-year increase and a 10% sequential growth. Additionally, IRIDEX achieved positive adjusted EBITDA for the first time, marking a significant milestone in its financial performance. The company also announced a strategic investment from Novel Innovations, enhancing its growth prospects with a $10 million investment and an option for an additional $10 million for future initiatives.

In corporate governance developments, IRIDEX saw changes in its Board of Directors following a Rights Agreement with Novel Inspiration International Co., Ltd. Kenneth E. Ludlum and Robert E. Grove resigned from the Board to comply with the agreement, which maintains the Board’s size at five directors. These resignations were not due to disagreements with the company but were part of the contractual obligations arising from the Novel Transaction (JO:NTUJ). The Board expressed gratitude for their contributions, and no successors have been announced yet.

These recent developments indicate IRIDEX’s ongoing efforts to align its corporate structure with strategic investments and partnerships. The strategic investment by Novel Innovations underscores a commitment to strengthening IRIDEX’s market position in the ophthalmology sector. The company plans to discuss its evolving strategy in an upcoming special call in mid-April.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.