Lantronix, Inc. (NASDAQ:LTRX) Sees Large Decrease in Short Interest

Lantronix, Inc. (NASDAQ:LTRX) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 140,200 shares, a decline of 17.7% from the October 15th total of 170,400 shares. Based on an average daily trading volume, of 330,700 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling at Lantronix

In other Lantronix news, CEO Saleel Awsare acquired 80,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the purchase, the chief executive officer now directly owns 233,184 shares in the company, valued at $620,269.44. This trade represents a 52.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bernhard Bruscha sold 8,435 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $4.00, for a total transaction of $33,740.00. Following the completion of the sale, the insider now directly owns 5,373,036 shares in the company, valued at $21,492,144. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,065 shares of company stock valued at $356,232 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

Several hedge funds have recently modified their holdings of LTRX. ProShare Advisors LLC bought a new stake in Lantronix in the 2nd quarter valued at $42,000. Mackenzie Financial Corp bought a new stake in shares of Lantronix during the second quarter valued at approximately $50,000. SG Americas Securities LLC bought a new position in Lantronix in the 1st quarter valued at $55,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lantronix in the third quarter worth about $60,000. Finally, American Century Companies Inc. grew its position in shares of Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after buying an additional 5,693 shares during the period. 39.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday. StockNews.com downgraded Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group dropped their target price on Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lantronix currently has a consensus rating of “Buy” and an average price target of $6.50.

Lantronix Trading Up 0.4 %

Shares of LTRX traded up $0.01 during mid-day trading on Friday, reaching $2.83. The company’s stock had a trading volume of 568,473 shares, compared to its average volume of 299,607. The business has a fifty day moving average of $3.88 and a 200 day moving average of $3.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03. Lantronix has a 1 year low of $2.48 and a 1 year high of $6.95.

Lantronix (NASDAQ:LTRX) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. Sell-side analysts predict that Lantronix will post -0.01 EPS for the current fiscal year.

Lantronix Company Profile

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.