Lantronix, Inc. (NASDAQ:LTRX) Sees Large Decline in Short Interest

Lantronix, Inc. (NASDAQ:LTRX) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 235,400 shares, a decline of 21.3% from the December 15th total of 299,200 shares. Based on an average daily volume of 425,800 shares, the short-interest ratio is presently 0.6 days.

Insider Activity

In other Lantronix news, CEO Saleel Awsare purchased 80,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $2.66 per share, with a total value of $212,800.00. Following the transaction, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at $620,269.44. This represents a 52.22 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hoshi Printer acquired 15,000 shares of Lantronix stock in a transaction dated Tuesday, November 26th. The shares were acquired at an average price of $2.90 per share, with a total value of $43,500.00. Following the completion of the purchase, the director now owns 176,075 shares in the company, valued at approximately $510,617.50. The trade was a 9.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Lantronix

Several institutional investors and hedge funds have recently modified their holdings of LTRX. ProShare Advisors LLC bought a new stake in shares of Lantronix during the 2nd quarter worth about $42,000. Mackenzie Financial Corp acquired a new stake in Lantronix during the second quarter worth approximately $50,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lantronix during the third quarter worth approximately $60,000. American Century Companies Inc. grew its position in shares of Lantronix by 27.6% in the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock valued at $93,000 after purchasing an additional 5,693 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Lantronix by 235.9% during the third quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock worth $257,000 after purchasing an additional 43,770 shares during the period. 39.38% of the stock is currently owned by institutional investors and hedge funds.

Lantronix Price Performance

Shares of NASDAQ LTRX remained flat at $3.46 during midday trading on Wednesday. The stock had a trading volume of 288,314 shares, compared to its average volume of 481,893. The company has a quick ratio of 1.78, a current ratio of 2.61 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $133.12 million, a price-to-earnings ratio of -24.71 and a beta of 1.94. Lantronix has a one year low of $2.48 and a one year high of $6.95. The business has a 50 day moving average of $3.43 and a 200 day moving average of $3.69.

Wall Street Analyst Weigh In

Several brokerages recently commented on LTRX. Needham & Company LLC reduced their price target on Lantronix from $7.00 to $5.50 and set a “buy” rating for the company in a research report on Monday, November 11th. Canaccord Genuity Group cut their price objective on Lantronix from $7.50 to $5.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus 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.