Gold prices near 3-week lows as stronger dollar, trade progress weigh
In recent transactions, William M. Moore, a director at Iridex Corp (NASDAQ:IRIX), purchased a total of 30,000 shares of common stock over two days. The insider buying comes as the stock trades near $0.96, having declined over 45% in the past six months. According to InvestingPro analysis, the company currently trades below its Fair Value, though it faces challenges with negative EBITDA of -$4.94M. The acquisitions were made on June 11 and June 12, 2025, at prices ranging from $0.9627 to $0.9747 per share. The total value of these purchases amounts to $29,121. Following these transactions, Moore directly owns 168,650 shares. Additionally, Moore holds indirect ownership of 99,326 shares, with 69,300 shares held by his spouse and 30,026 shares held in a trust. InvestingPro has identified several key metrics for IRIX, including that it’s quickly burning through cash. Subscribers can access 6 additional ProTips and a comprehensive Pro Research Report, part of the analysis available for 1,400+ US stocks.
In other recent news, IRIDEX Corporation announced its financial results for the fourth quarter of 2024, reporting a net loss of $800,000, or $0.05 per share, which met market expectations. The company achieved revenue of $12.7 million, slightly exceeding forecasts, and reported positive adjusted EBITDA for the first time. Meanwhile, IRIDEX received a notification from Nasdaq regarding non-compliance with the minimum stockholder equity requirement, with plans to address this through shareholder approval to reclassify certain stock at an upcoming meeting. The company also amended an agreement with Novel Inspiration International, preventing significant asset disposals without unanimous board consent. Recent board changes include the resignations of directors Kenneth E. Ludlum and Robert E. Grove, in line with agreements made with Novel Inspiration International. These corporate governance updates are part of IRIDEX’s strategic partnership with Novel, which has influenced its board composition. The company continues to navigate compliance and strategic initiatives while maintaining its business operations and SEC reporting requirements.
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