Lantronix Inc (NASDAQ:LTRX) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totalling 31,400 shares, a decrease of 68.8% from the February 27th total of 100,600 shares. Based on an average daily trading volume, of 109,900 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s stock are short sold.
Several research analysts have recently commented on the company. ValuEngine raised Lantronix from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Needham & Company LLC reduced their target price on Lantronix from $4.25 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Roth Capital started coverage on Lantronix in a report on Tuesday, February 18th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, Lake Street Capital cut their price objective on Lantronix from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, March 12th.
Shares of LTRX stock remained flat at $$1.72 during mid-day trading on Thursday. The stock had a trading volume of 281,357 shares, compared to its average volume of 113,002. The business has a fifty day moving average of $2.92 and a two-hundred day moving average of $3.36. The company has a current ratio of 2.65, a quick ratio of 1.87 and a debt-to-equity ratio of 0.13. The company has a market cap of $45.49 million, a price-to-earnings ratio of -9.05 and a beta of 1.00. Lantronix has a fifty-two week low of $1.58 and a fifty-two week high of $4.42.
Lantronix (NASDAQ:LTRX) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $13.23 million during the quarter. Lantronix had a negative net margin of 9.13% and a positive return on equity of 1.18%. Analysts forecast that Lantronix will post 0.04 earnings per share for the current year.
In other news, Director Hoshi Printer sold 52,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $3.06, for a total value of $159,120.00. Following the completion of the transaction, the director now directly owns 98,640 shares of the company’s stock, valued at approximately $301,838.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul F. Folino sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $3.41, for a total value of $102,300.00. Following the completion of the transaction, the director now directly owns 60,968 shares of the company’s stock, valued at $207,900.88. The disclosure for this sale can be found here. 40.00% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in LTRX. Wedbush Securities Inc. increased its holdings in shares of Lantronix by 169.4% in the fourth quarter. Wedbush Securities Inc. now owns 48,500 shares of the technology company’s stock valued at $172,000 after purchasing an additional 30,500 shares during the period. Essex Investment Management Co. LLC increased its holdings in shares of Lantronix by 16.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 516,073 shares of the technology company’s stock valued at $1,832,000 after purchasing an additional 73,745 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Lantronix by 2.9% in the fourth quarter. Renaissance Technologies LLC now owns 572,564 shares of the technology company’s stock worth $2,033,000 after buying an additional 16,300 shares during the last quarter. Finally, Lynrock Lake LP boosted its stake in shares of Lantronix by 13.9% in the fourth quarter. Lynrock Lake LP now owns 257,266 shares of the technology company’s stock worth $913,000 after buying an additional 31,300 shares during the last quarter. 14.35% of the stock is currently owned by institutional investors and hedge funds.
Lantronix Company Profile
Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.
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