Iteris (NASDAQ:ITI) Stock Passes Below Fifty Day Moving Average of $4.94

Iteris, Inc. (NASDAQ:ITI)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.94 and traded as low as $4.61. Iteris shares last traded at $4.63, with a volume of 72,880 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Iteris from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. B. Riley lifted their price target on shares of Iteris from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Friday, February 9th.

Iteris Stock Down 0.2 %

The stock has a market cap of $198.67 million, a P/E ratio of 77.17 and a beta of 0.67. The company’s 50 day moving average price is $4.94 and its two-hundred day moving average price is $4.69.

Iteris (NASDAQ:ITI) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $42.13 million for the quarter, compared to analyst estimates of $41.39 million. Iteris had a net margin of 1.45% and a return on equity of 3.76%. As a group, equities research analysts forecast that Iteris, Inc. will post 0.1 earnings per share for the current year.

Insider Activity at Iteris

In related news, CEO J. Joseph Bergera sold 10,714 shares of Iteris stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $5.19, for a total transaction of $55,605.66. Following the transaction, the chief executive officer now directly owns 182,424 shares of the company’s stock, valued at $946,780.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Iteris news, CEO J. Joseph Bergera sold 10,714 shares of Iteris stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $5.19, for a total value of $55,605.66. Following the transaction, the chief executive officer now directly owns 182,424 shares of the company’s stock, valued at $946,780.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Samjo Management, Llc sold 31,000 shares of Iteris stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.93, for a total transaction of $152,830.00. Following the completion of the transaction, the insider now directly owns 6,432,800 shares in the company, valued at $31,713,704. The disclosure for this sale can be found here. Insiders have sold a total of 127,164 shares of company stock valued at $662,009 over the last ninety days. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iteris

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Iteris by 211.2% during the second quarter. BlackRock Inc. now owns 2,356,101 shares of the technology company’s stock valued at $9,330,000 after buying an additional 1,599,016 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Iteris during the second quarter valued at $1,600,000. State Street Corp grew its holdings in shares of Iteris by 307.3% during the second quarter. State Street Corp now owns 597,655 shares of the technology company’s stock valued at $2,367,000 after buying an additional 450,912 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Iteris by 109.9% during the second quarter. Geode Capital Management LLC now owns 820,725 shares of the technology company’s stock valued at $3,250,000 after buying an additional 429,750 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Iteris by 333.8% during the second quarter. Northern Trust Corp now owns 355,704 shares of the technology company’s stock valued at $1,409,000 after buying an additional 273,698 shares during the last quarter. 51.16% of the stock is owned by hedge funds and other institutional investors.

About Iteris

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.