Lantronix, Inc. (NASDAQ:LTRX) Short Interest Down 17.7% in October

Lantronix, Inc. (NASDAQ:LTRX) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 140,200 shares, a drop of 17.7% from the October 15th total of 170,400 shares. Based on an average daily trading volume, of 330,700 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

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

Lantronix Stock Up 0.4 %

NASDAQ LTRX traded up $0.01 during trading hours on Friday, reaching $2.83. The company’s stock had a trading volume of 568,473 shares, compared to its average volume of 299,607. The company’s 50-day moving average is $3.88 and its two-hundred day moving average is $3.76. Lantronix has a fifty-two week low of $2.48 and a fifty-two week high of $6.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.03.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. The company had revenue of $49.08 million during the quarter, compared to analysts’ expectations of $49.10 million. As a group, research analysts forecast that Lantronix will post -0.01 EPS for the current year.

Insider Buying and Selling

In other Lantronix news, CEO Saleel Awsare acquired 80,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $2.66 per share, for a total transaction 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 trade represents a 52.22 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bernhard Bruscha sold 20,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $4.08, for a total transaction of $81,600.00. Following the sale, the insider now owns 5,198,971 shares of the company’s stock, valued at $21,211,801.68. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,065 shares of company stock worth $356,232 in the last quarter. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Lantronix

Several institutional investors and hedge funds have recently modified their holdings of LTRX. Renaissance Technologies LLC lifted its stake 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 worth $2,323,000 after purchasing an additional 152,400 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Lantronix by 65.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock valued at $3,036,000 after acquiring an additional 336,781 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $3,629,000 after acquiring an additional 159,671 shares during the period. Herald Investment Management Ltd boosted its position in shares of Lantronix by 17.6% in the second quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock worth $3,550,000 after acquiring an additional 150,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Lantronix by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock valued at $4,995,000 after purchasing an additional 131,476 shares during the period. Hedge funds and other institutional investors own 39.38% of the company’s stock.

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.