Iteris, Inc. (NASDAQ:ITI) Short Interest Update

Iteris, Inc. (NASDAQ:ITI) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 197,100 shares, a drop of 5.9% from the March 31st total of 209,400 shares. Based on an average daily volume of 125,600 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ITI shares. Maxim Group started coverage on Iteris in a research report on Tuesday. They set a “buy” rating and a $11.00 price target for the company. StockNews.com cut Iteris from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Finally, B. Riley lifted their price target on Iteris from $6.00 to $8.50 and gave the company a “buy” rating in a research report on Friday, February 9th.

Insider Transactions at Iteris

In other news, CEO J. Joseph Bergera sold 10,714 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $5.19, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO J. Joseph Bergera sold 10,714 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $5.19, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Samjo Management, Llc sold 72,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.36, for a total value of $385,920.00. Following the completion of the transaction, the insider now owns 6,320,800 shares of the company’s stock, valued at $33,879,488. The disclosure for this sale can be found here. Insiders sold a total of 98,968 shares of company stock worth $522,947 over the last three months. 7.40% of the stock is currently owned by insiders.

Institutional Trading of Iteris

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Iteris in the third quarter worth approximately $46,000. Bfsg LLC purchased a new position in Iteris during the fourth quarter worth approximately $50,000. SG Americas Securities LLC purchased a new position in Iteris during the third quarter worth approximately $52,000. Panagora Asset Management Inc. purchased a new position in Iteris during the third quarter worth approximately $116,000. Finally, Whittier Trust Co. lifted its position in Iteris by 9.3% during the third quarter. Whittier Trust Co. now owns 44,602 shares of the technology company’s stock worth $185,000 after buying an additional 3,794 shares in the last quarter. 51.16% of the stock is owned by institutional investors and hedge funds.

Iteris Trading Up 1.3 %

Shares of ITI opened at $4.54 on Thursday. Iteris has a 12 month low of $3.72 and a 12 month high of $5.49. The stock’s 50 day moving average is $4.81 and its two-hundred day moving average is $4.70. The firm has a market cap of $194.81 million, a P/E ratio of 75.67 and a beta of 0.67.

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

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.