Lantronix, Inc. (NASDAQ:LTRX) Sees Large Drop in Short Interest

Lantronix, Inc. (NASDAQ:LTRX) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 140,200 shares, a decline of 17.7% from the October 15th total of 170,400 shares. Based on an average trading volume of 330,700 shares, the days-to-cover ratio is currently 0.4 days.

Insider Activity

In related news, CEO Saleel Awsare acquired 80,000 shares of Lantronix stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $2.66 per share, for a total transaction of $212,800.00. Following the transaction, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at $620,269.44. This trade represents a 52.22 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bernhard Bruscha sold 31,630 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.32, for a total value of $136,641.60. Following the completion of the sale, the insider now directly owns 5,293,503 shares in the company, valued at $22,867,932.96. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,065 shares of company stock worth $356,232. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lantronix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Lantronix by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 1,402,989 shares of the technology company’s stock worth $4,995,000 after buying an additional 131,476 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Lantronix by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after acquiring an additional 159,671 shares in the last quarter. Herald Investment Management Ltd lifted its stake in Lantronix by 17.6% in the second quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock valued at $3,550,000 after acquiring an additional 150,000 shares during the last quarter. AWM Investment Company Inc. grew its position in Lantronix by 29.8% in the first quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock worth $3,522,000 after acquiring an additional 227,374 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Lantronix by 65.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock worth $3,036,000 after purchasing an additional 336,781 shares during the last quarter. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Lantronix Price Performance

LTRX stock traded up $0.01 on Friday, hitting $2.83. 568,597 shares of the company’s stock traded hands, compared to its average volume of 299,607. The stock has a market cap of $108.87 million, a price-to-earnings ratio of -20.21 and a beta of 2.14. Lantronix has a 1-year low of $2.48 and a 1-year high of $6.95. The company has a current ratio of 2.61, a quick ratio of 2.03 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $3.85 and a 200-day moving average of $3.75.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings data on Thursday, September 5th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $49.08 million during the quarter, compared to analyst estimates of $49.10 million. Lantronix had a negative return on equity of 2.91% and a negative net margin of 3.17%. On average, analysts forecast that Lantronix will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LTRX shares. Needham & Company LLC cut their price objective on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday, November 11th. Canaccord Genuity Group cut their price target on Lantronix from $7.50 to $5.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, StockNews.com lowered Lantronix from a “strong-buy” rating to a “buy” rating in a report on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.50.

About Lantronix

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.