Lantronix, Inc. (NASDAQ:LTRX) Short Interest Update

Lantronix, Inc. (NASDAQ:LTRX) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 577,000 shares, a growth of 294.4% from the June 30th total of 146,300 shares. Based on an average daily volume of 238,600 shares, the short-interest ratio is currently 2.4 days.

Lantronix Stock Up 1.9 %

LTRX stock traded up $0.07 during trading on Thursday, hitting $3.83. 98,583 shares of the company’s stock were exchanged, compared to its average volume of 275,645. The business has a 50-day moving average price of $3.74 and a two-hundred day moving average price of $4.13. The stock has a market capitalization of $143.93 million, a price-to-earnings ratio of -20.89 and a beta of 2.13. Lantronix has a 52-week low of $3.08 and a 52-week high of $6.95. The company has a current ratio of 2.25, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18.

Lantronix (NASDAQ:LTRX) last issued its quarterly earnings data on Monday, April 29th. The technology company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Lantronix had a negative return on equity of 8.47% and a negative net margin of 4.48%. The company had revenue of $41.18 million during the quarter, compared to analysts’ expectations of $40.80 million. As a group, equities research analysts expect that Lantronix will post -0.06 EPS for the current year.

Insider Buying and Selling at Lantronix

In other news, CEO Saleel Awsare acquired 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $3.66 per share, for a total transaction of $36,600.00. Following the acquisition, the chief executive officer now owns 30,000 shares of the company’s stock, valued at approximately $109,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Jason Cohenour bought 21,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $3.63 per share, with a total value of $76,230.00. Following the purchase, the director now directly owns 33,909 shares of the company’s stock, valued at $123,089.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Saleel Awsare bought 10,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $3.66 per share, with a total value of $36,600.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares in the company, valued at $109,800. The disclosure for this purchase can be found here. 17.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lantronix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. purchased a new stake in Lantronix in the third quarter valued at approximately $35,000. Jump Financial LLC grew its holdings in Lantronix by 115.4% during the fourth quarter. Jump Financial LLC now owns 31,990 shares of the technology company’s stock worth $187,000 after acquiring an additional 17,138 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Lantronix during the fourth quarter worth $148,000. First Eagle Investment Management LLC grew its holdings in Lantronix by 4.8% during the fourth quarter. First Eagle Investment Management LLC now owns 533,353 shares of the technology company’s stock worth $3,125,000 after acquiring an additional 24,250 shares during the period. Finally, Wasatch Advisors LP grew its holdings in Lantronix by 11.4% during the fourth quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock worth $9,507,000 after acquiring an additional 165,711 shares during the period. Hedge funds and other institutional investors own 39.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Lantronix in a research note on Tuesday, April 30th. StockNews.com raised Lantronix from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 25th. Lake Street Capital cut their price objective on Lantronix from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Craig Hallum cut their price objective on Lantronix from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Roth Mkm reissued a “buy” rating and set a $9.00 price objective on shares of Lantronix in a research report on Monday, June 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $8.50.

About Lantronix

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.