Iteris, Inc. (NASDAQ:ITI) Sees Significant Decrease in Short Interest

Iteris, Inc. (NASDAQ:ITI) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 197,100 shares, a decline 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 currently 1.6 days.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, major shareholder Samjo Management, Llc sold 72,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $5.36, for a total transaction of $385,920.00. Following the completion of the transaction, the insider now directly owns 6,320,800 shares of the company’s stock, valued at approximately $33,879,488. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO J. Joseph Bergera sold 13,450 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $5.03, for a total transaction of $67,653.50. Following the completion of the transaction, the chief executive officer now directly owns 192,238 shares of the company’s stock, valued at approximately $966,957.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Samjo Management, Llc sold 72,000 shares of the company’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 transaction, the insider now directly 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 98,968 shares of company stock valued at $522,947 in the last three months. 7.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Iteris

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Iteris during the third quarter valued at approximately $46,000. Bfsg LLC bought a new stake in Iteris during the fourth quarter worth approximately $50,000. SG Americas Securities LLC bought a new stake in Iteris during the third quarter worth approximately $52,000. Panagora Asset Management Inc. bought a new stake in Iteris during the third quarter worth approximately $116,000. Finally, Whittier Trust Co. raised its holdings 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 purchasing an additional 3,794 shares in the last quarter. Institutional investors own 51.16% of the company’s stock.

Iteris Stock Performance

NASDAQ:ITI opened at $4.48 on Wednesday. The company has a market capitalization of $192.24 million, a price-to-earnings ratio of 74.67 and a beta of 0.67. Iteris has a one year low of $3.72 and a one year high of $5.49. The stock has a 50-day simple moving average of $4.82 and a 200 day simple moving average of $4.71.

Iteris (NASDAQ:ITI) last issued its earnings results on Thursday, February 8th. The technology company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Iteris had a return on equity of 3.76% and a net margin of 1.45%. The company had revenue of $42.13 million during the quarter, compared to the consensus estimate of $41.39 million. On average, equities research analysts forecast that Iteris will post 0.1 EPS for the current fiscal 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.