Lantronix, Inc. (NASDAQ:LTRX) Short Interest Down 17.7% in October

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

Insiders Place Their Bets

In other news, major shareholder Bernhard Bruscha sold 31,630 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.32, for a total transaction of $136,641.60. Following the completion of the transaction, the insider now directly owns 5,293,503 shares of the company’s stock, valued at $22,867,932.96. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saleel Awsare bought 80,000 shares of the stock in a transaction on Wednesday, November 13th. The shares were bought at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the acquisition, the chief executive officer now owns 233,184 shares in the company, valued at $620,269.44. The trade was a 52.22 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 85,065 shares of company stock worth $356,232. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lantronix

A number of hedge funds have recently bought and sold shares of LTRX. American Century Companies Inc. boosted its stake 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 valued at $93,000 after buying an additional 5,693 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lantronix by 3.2% in the third quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company’s stock valued at $1,394,000 after acquiring an additional 10,413 shares in the last quarter. ProShare Advisors LLC bought a new position in Lantronix during the 2nd quarter valued at $42,000. Mackenzie Financial Corp acquired a new position in Lantronix during the 2nd quarter worth $50,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lantronix in the 3rd quarter worth about $60,000. Institutional investors and hedge funds own 39.38% of the company’s stock.

Lantronix Stock Up 0.4 %

Lantronix stock traded up $0.01 during midday trading on Friday, hitting $2.83. 568,597 shares of the company were exchanged, compared to its average volume of 299,607. 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 fifty-two week low of $2.48 and a fifty-two week high of $6.95. The company’s fifty day moving average price is $3.85 and its 200-day moving average price is $3.75. The company has a market cap of $108.87 million, a PE ratio of -20.21 and a beta of 2.14.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $49.08 million for the quarter, compared to the consensus estimate of $49.10 million. Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. On average, research analysts predict that Lantronix will post -0.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LTRX shares. StockNews.com cut Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Needham & Company LLC decreased their target price on Lantronix from $7.00 to $5.50 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Canaccord Genuity Group dropped their target price on shares of Lantronix from $7.50 to $5.00 and set a “buy” rating for the company in a research report on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $6.50.

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.