Itron, Inc. (NASDAQ:ITRI) Short Interest Update

Itron, Inc. (NASDAQ:ITRI) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,990,000 shares, an increase of 13.7% from the June 30th total of 2,630,000 shares. Based on an average daily volume of 622,200 shares, the short-interest ratio is presently 4.8 days.

Itron Trading Up 1.9 %

Itron stock traded up $1.90 during mid-day trading on Wednesday, reaching $103.44. 578,750 shares of the company traded hands, compared to its average volume of 507,598. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. The firm’s 50 day moving average price is $103.62 and its 200 day moving average price is $93.67. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 0.97 and a beta of 1.45. Itron has a 52-week low of $56.11 and a 52-week high of $111.00.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. The business had revenue of $603.44 million for the quarter, compared to the consensus estimate of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. On average, analysts anticipate that Itron will post 4.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the sale, the chief executive officer now directly owns 206,163 shares of the company’s stock, valued at approximately $22,444,965.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Thomas Deitrich sold 873 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the transaction, the chief executive officer now owns 206,163 shares in the company, valued at approximately $22,444,965.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joan S. Hooper sold 501 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $54,543.87. Following the transaction, the chief financial officer now owns 72,847 shares in the company, valued at approximately $7,930,852.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,775 shares of company stock worth $192,613. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

A number of hedge funds and other institutional investors have recently modified their holdings of ITRI. Trexquant Investment LP grew its position in Itron by 18.4% during the 4th quarter. Trexquant Investment LP now owns 67,973 shares of the scientific and technical instruments company’s stock valued at $5,133,000 after purchasing an additional 10,542 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Itron during the 1st quarter valued at about $2,002,000. Commonwealth Equity Services LLC bought a new position in Itron during the 1st quarter valued at about $1,076,000. Jupiter Asset Management Ltd. bought a new position in Itron during the 1st quarter valued at about $2,029,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Itron by 91.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 30,568 shares of the scientific and technical instruments company’s stock valued at $2,308,000 after acquiring an additional 14,573 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen increased their price objective on shares of Itron from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Stephens raised their price target on shares of Itron from $85.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Roth Mkm lifted their price objective on shares of Itron from $112.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Piper Sandler lifted their target price on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus price target of $112.09.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.