Iteris, Inc. (NASDAQ:ITI) Short Interest Update

Iteris, Inc. (NASDAQ:ITI) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 647,900 shares, a growth of 50.3% from the September 30th total of 431,200 shares. Based on an average daily volume of 789,100 shares, the days-to-cover ratio is presently 0.8 days.

Iteris Stock Performance

Shares of ITI opened at $7.19 on Tuesday. Iteris has a twelve month low of $4.00 and a twelve month high of $7.20. The company has a market cap of $307.88 million, a P/E ratio of 239.75 and a beta of 0.86. The company’s fifty day simple moving average is $7.13 and its 200-day simple moving average is $5.55.

Iteris (NASDAQ:ITI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. Iteris had a return on equity of 2.02% and a net margin of 0.80%. Analysts predict that Iteris will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $6.99, for a total transaction of $5,929,617.00. Following the completion of the transaction, the insider now owns 4,165,000 shares in the company, valued at $29,113,350. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ITI. Public Employees Retirement System of Ohio purchased a new position in Iteris during the 1st quarter valued at about $43,000. Bfsg LLC increased its position in Iteris by 31.4% during the 2nd quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock valued at $55,000 after purchasing an additional 3,038 shares during the period. EntryPoint Capital LLC purchased a new position in Iteris during the 1st quarter valued at about $66,000. Cubist Systematic Strategies LLC purchased a new position in Iteris during the 2nd quarter valued at about $91,000. Finally, Perritt Capital Management Inc. increased its position in Iteris by 150.0% during the 1st quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock valued at $124,000 after purchasing an additional 15,000 shares during the period. Hedge funds and other institutional investors own 51.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of Iteris in a research report on Wednesday, October 23rd. They set a “buy” rating for the company. Northland Capmk downgraded shares of Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Maxim Group reissued a “hold” rating on shares of Iteris in a research note on Monday, August 12th. Finally, B. Riley reissued a “neutral” rating and issued a $7.20 target price (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st.

Iteris Company Profile

Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.