Iteris, Inc. (NASDAQ:ITI) Sees Significant Growth in Short Interest

Iteris, Inc. (NASDAQ:ITIGet Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 215,600 shares, an increase of 10.2% from the February 29th total of 195,600 shares. Based on an average trading volume of 134,800 shares, the days-to-cover ratio is currently 1.6 days.

Insider Buying and Selling

In related news, major shareholder Samjo Management, Llc sold 31,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.93, for a total transaction of $152,830.00. Following the transaction, the insider now directly owns 6,432,800 shares of the company’s stock, valued at $31,713,704. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Iteris news, major shareholder Samjo Management, Llc sold 31,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $4.93, for a total value of $152,830.00. Following the transaction, the insider now directly owns 6,432,800 shares of the company’s stock, valued at $31,713,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J. Joseph Bergera sold 10,714 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 182,424 shares in the company, valued at $946,780.56. 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 corporate insiders.

Institutional Trading of Iteris

A number of large investors have recently added to or reduced their stakes in ITI. Barclays PLC purchased a new position in shares of Iteris in the second quarter worth about $34,000. Cubist Systematic Strategies LLC purchased a new position in shares of Iteris in the first quarter worth about $34,000. Walleye Capital LLC purchased a new position in shares of Iteris in the first quarter worth about $39,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Iteris in the third quarter worth about $46,000. Finally, Bank of Montreal Can purchased a new position in shares of Iteris in the second quarter worth about $47,000. Hedge funds and other institutional investors own 51.16% of the company’s stock.

Iteris Price Performance

Shares of ITI stock opened at $4.85 on Tuesday. The firm has a 50-day moving average of $4.99 and a 200-day moving average of $4.65. The company has a market cap of $208.11 million, a P/E ratio of 80.83 and a beta of 0.67. Iteris has a one year low of $3.72 and a one year high of $5.49.

Iteris (NASDAQ:ITIGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Iteris had a net margin of 1.45% and a return on equity of 3.76%. The business had revenue of $42.13 million during the quarter, compared to the consensus estimate of $41.39 million. As a group, research analysts expect that Iteris will post 0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Read Our Latest Report on ITI

Iteris Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Iteris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iteris and related companies with MarketBeat.com's FREE daily email newsletter.