Short Interest in Iteris, Inc. (NASDAQ:ITI) Expands By 50.3%

Iteris, Inc. (NASDAQ:ITI) saw a significant growth in short interest in 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 trading volume, of 789,100 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

ITI has been the topic of a number of recent analyst reports. Northland Capmk lowered shares of Iteris from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Maxim Group reissued a “hold” rating on shares of Iteris in a research note on Monday, August 12th. B. Riley restated a “neutral” rating and issued a $7.20 target price (down previously from $8.00) on shares of Iteris in a report on Wednesday, August 21st. Finally, StockNews.com started coverage on Iteris in a report on Wednesday, October 23rd. They set a “buy” rating on the stock.

Insider Buying and Selling at Iteris

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris stock in a transaction on Monday, August 12th. The stock was sold at an average price of $6.99, for a total value of $5,929,617.00. Following the transaction, the insider now directly owns 4,165,000 shares in the company, valued at $29,113,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is owned by corporate insiders.

Institutional Trading of Iteris

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

Iteris Price Performance

NASDAQ ITI opened at $7.19 on Tuesday. The firm has a market capitalization of $307.88 million, a price-to-earnings ratio of 239.75 and a beta of 0.86. The company has a 50 day simple moving average of $7.13 and a 200-day simple moving average of $5.55. Iteris has a 52-week low of $4.00 and a 52-week high of $7.20.

Iteris (NASDAQ:ITI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (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 company had revenue of $45.78 million for the quarter, compared to analyst estimates of $44.02 million. On average, analysts predict that Iteris will post 0.16 EPS for the current year.

Iteris Company Profile

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.