Short Interest in Lantronix, Inc. (NASDAQ:LTRX) Declines By 21.3%

by · The Markets Daily

Lantronix, Inc. (NASDAQ:LTRX – Get Free Report) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 235,400 shares, a decrease of 21.3% from the December 15th total of 299,200 shares. Based on an average trading volume of 425,800 shares, the short-interest ratio is currently 0.6 days.

Analysts Set New Price Targets

LTRX has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Needham & Company LLC dropped their price objective on Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Lantronix presently has an average rating of “Buy” and a consensus price target of $6.50.

Read Our Latest Stock Analysis on Lantronix

Insider Transactions at Lantronix

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

Institutional Investors Weigh In On Lantronix

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

Lantronix Stock Performance

Lantronix stock traded down $0.03 during mid-day trading on Friday, reaching $3.51. 120,504 shares of the stock traded hands, compared to its average volume of 426,236. Lantronix has a 12-month low of $2.48 and a 12-month high of $6.90. The business’s 50-day moving average is $3.42 and its 200-day moving average is $3.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 1.78. The stock has a market capitalization of $135.03 million, a PE ratio of -25.07 and a beta of 1.94.

Lantronix Company Profile

(Get Free Report)

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.

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