Lantronix, Inc. (NASDAQ:LTRX) Short Interest Down 49.6% in September

Lantronix, Inc. (NASDAQ:LTRX) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 128,200 shares, a decline of 49.6% from the September 15th total of 254,500 shares. Based on an average trading volume of 266,100 shares, the short-interest ratio is currently 0.5 days.

Insider Activity at Lantronix

In other news, major shareholder Bernhard Bruscha sold 8,435 shares of the business’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 transaction, the insider now directly owns 5,373,036 shares in the company, valued at $21,492,144. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 89,014 shares of company stock valued at $371,386. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of institutional investors have recently bought and sold shares of LTRX. ProShare Advisors LLC bought a new stake in Lantronix during the 2nd quarter worth approximately $42,000. Mackenzie Financial Corp purchased a new position in Lantronix during the 2nd quarter valued at approximately $50,000. SG Americas Securities LLC purchased a new stake in shares of Lantronix during the 1st quarter valued at about $55,000. American Century Companies Inc. increased its stake in Lantronix by 27.6% during the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Heron Bay Capital Management bought a new position in shares of Lantronix during the 1st quarter valued at approximately $226,000. 39.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on LTRX shares. StockNews.com downgraded Lantronix from a “strong-buy” rating to a “buy” rating in a report on Friday, October 4th. Needham & Company LLC reiterated a “buy” rating and set a $7.00 target price on shares of Lantronix in a report on Friday, September 6th. Canaccord Genuity Group initiated coverage on Lantronix in a research note on Wednesday, September 11th. They issued a “buy” rating and a $7.50 target price for the company. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $9.00 price target on shares of Lantronix in a research note on Monday, June 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.30.

Lantronix Stock Performance

Shares of LTRX traded up $0.21 during mid-day trading on Friday, hitting $4.01. 282,523 shares of the company traded hands, compared to its average volume of 278,591. The stock has a market cap of $152.59 million, a price-to-earnings ratio of -33.37 and a beta of 2.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.03 and a current ratio of 2.95. The stock has a 50-day moving average price of $3.78 and a two-hundred day moving average price of $3.69. Lantronix has a 1 year low of $3.08 and a 1 year high of $6.95.

Lantronix (NASDAQ:LTRX) last posted its earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative return on equity of 2.14% and a negative net margin of 2.82%. The company had revenue of $49.08 million for the quarter, compared to the consensus estimate of $49.10 million. Equities analysts anticipate that Lantronix will post -0.01 earnings per share for the current 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.