Canaccord Genuity Group Initiates Coverage on Lantronix (NASDAQ:LTRX)

Stock analysts at Canaccord Genuity Group started coverage on shares of Lantronix (NASDAQ:LTRX) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $7.50 price target on the technology company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 67.79% from the company’s current price.

Other analysts have also recently issued reports about the stock. StockNews.com downgraded shares of Lantronix from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Roth Mkm restated a “buy” rating and issued a $9.00 target price on shares of Lantronix in a research note on Monday, June 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price target on shares of Lantronix in a report on Friday, September 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lantronix currently has an average rating of “Buy” and a consensus target price of $7.30.

Lantronix Price Performance

Shares of LTRX stock opened at $4.47 on Wednesday. The stock’s 50-day moving average is $3.70 and its 200 day moving average is $3.65. Lantronix has a 1-year low of $3.08 and a 1-year high of $6.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.25 and a quick ratio of 1.32. The company has a market cap of $167.98 million, a P/E ratio of -24.83 and a beta of 2.12.

Insider Activity at Lantronix

In other Lantronix news, major shareholder Bernhard Bruscha sold 8,435 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $4.00, for a total transaction of $33,740.00. Following the sale, the insider now owns 5,373,036 shares of the company’s stock, valued at approximately $21,492,144. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.30% of the stock is currently owned by insiders.

Institutional Trading of Lantronix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC acquired a new position in shares of Lantronix in the second quarter valued at about $42,000. Mackenzie Financial Corp purchased a new stake in Lantronix in the second quarter valued at approximately $50,000. SG Americas Securities LLC purchased a new stake in Lantronix in the first quarter valued at approximately $55,000. Hillsdale Investment Management Inc. acquired a new position in Lantronix in the 4th quarter worth approximately $148,000. Finally, American Century Companies Inc. raised its position in Lantronix by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after buying an additional 5,693 shares during the last quarter. Institutional investors and hedge funds own 39.38% of the company’s stock.

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.