Iteris, Inc. (NASDAQ:ITI) Sees Significant Decline in Short Interest

Iteris, Inc. (NASDAQ:ITI) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 157,400 shares, a decrease of 7.8% from the May 31st total of 170,800 shares. Based on an average trading volume of 92,700 shares, the short-interest ratio is currently 1.7 days.

Iteris Stock Performance

Shares of NASDAQ ITI traded up $0.15 during mid-day trading on Wednesday, reaching $4.51. The company’s stock had a trading volume of 121,299 shares, compared to its average volume of 116,195. The stock has a 50-day moving average of $4.45 and a two-hundred day moving average of $4.75. The stock has a market capitalization of $193.79 million, a P/E ratio of 62.29 and a beta of 0.83. Iteris has a 1-year low of $3.72 and a 1-year high of $5.49.

Wall Street Analysts Forecast Growth

ITI has been the subject of a number of recent research reports. Maxim Group initiated coverage on shares of Iteris in a research report on Tuesday, April 30th. They issued a “buy” rating and a $11.00 target price for the company. StockNews.com cut shares of Iteris from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th.

Institutional Investors Weigh In On Iteris

A number of hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Iteris in the first quarter valued at about $1,270,000. Perritt Capital Management Inc. grew its holdings in shares of Iteris by 150.0% in the first 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. Public Employees Retirement System of Ohio purchased a new stake in shares of Iteris in the first quarter valued at about $43,000. EntryPoint Capital LLC purchased a new stake in shares of Iteris in the first quarter valued at about $66,000. Finally, Natixis purchased a new stake in shares of Iteris in the first quarter valued at about $642,000. Hedge funds and other institutional investors own 51.16% of the company’s stock.

About Iteris

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.