Lantronix, Inc. (NASDAQ:LTRX) Sees Significant Decline in Short Interest

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

Insider Activity

In other Lantronix news, CEO Saleel Awsare bought 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $2.66 per share, with a total value of $212,800.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hoshi Printer purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average price of $2.90 per share, for a total transaction of $43,500.00. Following the acquisition, the director now directly owns 176,075 shares of the company’s stock, valued at $510,617.50. This trade represents a 9.31 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Lantronix

A number of hedge funds have recently bought and sold shares of LTRX. ProShare Advisors LLC bought a new position in Lantronix during the 2nd quarter valued at $42,000. Mackenzie Financial Corp acquired a new position in Lantronix in the second quarter worth about $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lantronix during the third quarter valued at approximately $60,000. American Century Companies Inc. grew its position in shares of Lantronix by 27.6% in 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 in the last quarter. Finally, Barclays PLC increased its holdings in shares of Lantronix by 235.9% in the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock valued at $257,000 after acquiring an additional 43,770 shares during the last quarter. Institutional investors and hedge funds own 39.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Lantronix Stock Down 0.8 %

NASDAQ:LTRX traded down $0.03 on Friday, reaching $3.51. The stock had a trading volume of 120,504 shares, 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 stock has a market cap of $135.03 million, a P/E ratio of -25.07 and a beta of 1.94. The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $3.42 and a 200 day moving average of $3.69.

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.