Iteris, Inc. (NASDAQ:ITI) Short Interest Up 6.5% in September

Iteris, Inc. (NASDAQ:ITI) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 406,200 shares, a growth of 6.5% from the August 31st total of 381,500 shares. Based on an average daily trading volume, of 703,900 shares, the short-interest ratio is currently 0.6 days.

Iteris Trading Up 0.1 %

ITI opened at $7.15 on Wednesday. The company has a fifty day moving average price of $6.43 and a two-hundred day moving average price of $5.22. Iteris has a 1-year low of $3.97 and a 1-year high of $7.16. The company has a market cap of $307.27 million, a P/E ratio of 102.14 and a beta of 0.86.

Iteris (NASDAQ:ITI) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $45.78 million during the quarter, compared to the consensus estimate of $44.02 million. Iteris had a return on equity of 2.02% and a net margin of 0.80%. On average, research analysts forecast that Iteris will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ITI shares. StockNews.com assumed coverage on Iteris in a report on Sunday. They issued a “buy” rating for the company. Maxim Group reaffirmed a “hold” rating on shares of Iteris in a research note on Monday, August 12th. B. Riley reiterated a “neutral” rating and set a $7.20 target price (down from $8.00) on shares of Iteris in a research report on Wednesday, August 21st. Finally, Northland Capmk lowered shares of Iteris from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th.

Insiders Place Their Bets

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris stock in a transaction that occurred on Monday, August 12th. The shares were 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 of the company’s stock, valued at $29,113,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Iteris

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new position in shares of Iteris in the first quarter valued at approximately $1,270,000. Private Management Group Inc. lifted its stake in Iteris by 13.3% during the 2nd quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock valued at $7,045,000 after acquiring an additional 191,511 shares in the last quarter. Acuitas Investments LLC boosted its holdings in Iteris by 155.2% during the 2nd quarter. Acuitas Investments LLC now owns 270,534 shares of the technology company’s stock worth $1,171,000 after acquiring an additional 164,539 shares during the last quarter. Natixis bought a new stake in shares of Iteris in the 1st quarter worth $642,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Iteris by 24.2% in the second quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock valued at $1,628,000 after purchasing an additional 73,300 shares during the last quarter. Institutional investors own 51.16% of the company’s stock.

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.