Iteris, Inc. (NASDAQ:ITI) Sees Significant Increase in Short Interest

Iteris, Inc. (NASDAQ:ITI) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 647,900 shares, a growth of 50.3% from the September 30th total of 431,200 shares. Based on an average daily volume of 789,100 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Northland Capmk lowered shares of Iteris from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. StockNews.com initiated coverage on shares of Iteris in a research report on Wednesday. They issued a “buy” rating on the stock. Maxim Group reiterated a “hold” rating on shares of Iteris in a research report on Monday, August 12th. Finally, B. Riley restated a “neutral” rating and issued a $7.20 target price (down from $8.00) on shares of Iteris in a report on Wednesday, August 21st.

Iteris Stock Performance

Shares of NASDAQ:ITI remained flat at $7.19 during trading on Friday. 188,916 shares of the company’s stock were exchanged, compared to its average volume of 328,503. The company has a fifty day simple moving average of $7.12 and a two-hundred day simple moving average of $5.53. Iteris has a 52 week low of $4.00 and a 52 week high of $7.20. The firm has a market cap of $307.88 million, a price-to-earnings ratio of 239.75 and a beta of 0.86.

Iteris (NASDAQ:ITI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The firm had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. As a group, research analysts anticipate that Iteris will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $6.99, for a total transaction of $5,929,617.00. Following the sale, the insider now directly owns 4,165,000 shares in the company, valued at approximately $29,113,350. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Whittier Trust Co. increased its holdings in shares of Iteris by 4.7% during the 3rd quarter. Whittier Trust Co. now owns 42,552 shares of the technology company’s stock valued at $304,000 after acquiring an additional 1,897 shares during the last quarter. Bfsg LLC raised its position in shares of Iteris by 31.4% in the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock valued at $55,000 after purchasing an additional 3,038 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Iteris in the first quarter worth $43,000. Bank of New York Mellon Corp boosted its holdings in shares of Iteris by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 134,539 shares of the technology company’s stock worth $583,000 after buying an additional 10,208 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its stake in Iteris by 6.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 184,464 shares of the technology company’s stock valued at $799,000 after buying an additional 11,247 shares during the last quarter. Institutional investors and hedge funds own 51.16% of the company’s stock.

About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.