Short Interest in Lantronix, Inc. (NASDAQ:LTRX) Drops By 72.5%

Lantronix, Inc. (NASDAQ:LTRX) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 254,500 shares, a decrease of 72.5% from the August 31st total of 924,200 shares. Based on an average daily volume of 259,000 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analyst Weigh In

Several research analysts have commented on LTRX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Lantronix in a research note on Friday, September 6th. StockNews.com upgraded Lantronix from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Canaccord Genuity Group started coverage on Lantronix in a research note on Wednesday, September 11th. They issued a “buy” rating and a $7.50 price objective on the stock. Finally, Roth Mkm restated a “buy” rating and set a $9.00 target price on shares of Lantronix in a research report on Monday, June 17th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $7.30.

Lantronix Stock Up 0.3 %

NASDAQ:LTRX traded up $0.01 on Wednesday, hitting $3.80. The stock had a trading volume of 122,560 shares, compared to its average volume of 280,239. Lantronix has a 1 year low of $3.08 and a 1 year high of $6.95. The firm’s fifty day simple moving average is $3.76 and its two-hundred day simple moving average is $3.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.03 and a current ratio of 2.95. The stock has a market cap of $142.80 million, a P/E ratio of -21.11 and a beta of 2.12.

Insider Activity at Lantronix

In related news, major shareholder Bernhard Bruscha sold 8,435 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was 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 document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 64,014 shares of company stock valued at $267,136 in the last quarter. Insiders own 17.30% of the company’s stock.

Institutional Trading of Lantronix

A number of hedge funds have recently bought and sold shares of LTRX. First Eagle Investment Management LLC increased its position in Lantronix by 65.0% in the second quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company’s stock worth $3,036,000 after buying an additional 336,781 shares during the last quarter. AWM Investment Company Inc. boosted its holdings in Lantronix by 29.8% in the 1st quarter. AWM Investment Company Inc. now owns 989,307 shares of the technology company’s stock worth $3,522,000 after buying an additional 227,374 shares during the period. Wasatch Advisors LP grew its stake in Lantronix by 11.4% in the 4th quarter. Wasatch Advisors LP now owns 1,622,343 shares of the technology company’s stock valued at $9,507,000 after buying an additional 165,711 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Lantronix by 18.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after buying an additional 159,671 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Lantronix by 30.4% during the 2nd quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company’s stock valued at $2,323,000 after acquiring an additional 152,400 shares during the period. 39.38% of the stock is currently owned by institutional investors.

Lantronix Company Profile

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.