Short Interest in Iteris, Inc. (NASDAQ:ITI) Rises By 6.5%

Iteris, Inc. (NASDAQ:ITI) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 406,200 shares, an increase of 6.5% from the August 31st total of 381,500 shares. Based on an average trading volume of 703,900 shares, the short-interest ratio is presently 0.6 days.

Iteris Price Performance

ITI stock remained flat at $7.14 during mid-day trading on Monday. 666,866 shares of the company’s stock traded hands, compared to its average volume of 328,260. The firm has a market cap of $306.84 million, a P/E ratio of 102.00 and a beta of 0.86. Iteris has a 52 week low of $3.97 and a 52 week high of $7.16. The stock’s fifty day moving average is $6.38 and its two-hundred day moving average is $5.20.

Iteris (NASDAQ:ITI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The business had revenue of $45.78 million during the quarter, compared to the consensus estimate of $44.02 million. On average, equities research analysts expect that Iteris will post 0.18 EPS for the current year.

Insider Activity at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris stock in a transaction on Monday, August 12th. The shares were sold at an average price of $6.99, for a total value of $5,929,617.00. Following the transaction, the insider now directly owns 4,165,000 shares in the company, valued at $29,113,350. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Iteris during the 1st quarter valued at about $43,000. Bfsg LLC boosted its stake in Iteris by 31.4% during the 2nd quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock valued at $55,000 after purchasing an additional 3,038 shares during the period. EntryPoint Capital LLC acquired a new position in Iteris during the 1st quarter valued at about $66,000. Cubist Systematic Strategies LLC acquired a new position in Iteris during the 2nd quarter valued at about $91,000. Finally, Perritt Capital Management Inc. boosted its stake in Iteris by 150.0% during the 1st quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock valued at $124,000 after purchasing an additional 15,000 shares during the period. 51.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Iteris in a research note on Sunday. They set a “buy” rating on the stock. Maxim Group reissued a “hold” rating on shares of Iteris in a research note on Monday, August 12th. B. Riley reaffirmed a “neutral” rating and set a $7.20 price target (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st. Finally, Northland Capmk lowered shares of Iteris from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th.

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.