Lantronix, Inc. (NASDAQ:LTRX) Short Interest Down 21.3% in December

Lantronix, Inc. (NASDAQ:LTRX) was the recipient of a large decline in short interest during the month of 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 currently 0.6 days.

Lantronix Price Performance

Shares of NASDAQ LTRX remained flat at $3.46 during midday trading on Wednesday. 288,314 shares of the stock were exchanged, 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. Lantronix has a 52 week low of $2.48 and a 52 week high of $6.95. The business’s 50 day moving average is $3.43 and its 200-day moving average is $3.69. The stock has a market capitalization of $133.12 million, a P/E ratio of -24.71 and a beta of 1.94.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC dropped their price objective on Lantronix from $7.00 to $5.50 and set a “buy” rating for the company in a report on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lantronix currently has an average rating of “Buy” and a consensus price target of $6.50.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LTRX. Acadian Asset Management LLC raised its position in shares of Lantronix by 89.3% during the second quarter. Acadian Asset Management LLC now owns 196,702 shares of the technology company’s stock worth $697,000 after purchasing an additional 92,818 shares during the period. American Century Companies Inc. increased its stake in Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after purchasing an additional 5,693 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Lantronix by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock worth $3,629,000 after buying an additional 159,671 shares during the period. Renaissance Technologies LLC lifted its stake in Lantronix by 30.4% in the second quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company’s stock valued at $2,323,000 after buying an additional 152,400 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Lantronix by 65.0% in the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock valued at $3,036,000 after buying an additional 336,781 shares during the period. 39.38% of the stock is currently owned by institutional investors.

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.