Lantronix, Inc. (NASDAQ:LTRX) Short Interest Update

Lantronix, Inc. (NASDAQ:LTRX - Get Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 396,000 shares, a decrease of 18.1% from the April 30th total of 483,400 shares. Currently, 1.0% of the company's stock are short sold. Based on an average trading volume of 264,900 shares, the days-to-cover ratio is currently 1.5 days.

Insider Activity at Lantronix

In related news, CEO Saleel Awsare purchased 15,011 shares of Lantronix stock in a transaction dated Tuesday, May 13th. The stock was purchased at an average cost of $2.11 per share, for a total transaction of $31,673.21. Following the completion of the purchase, the chief executive officer now directly owns 268,391 shares of the company's stock, valued at $566,305.01. The trade was a 5.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have acquired 40,011 shares of company stock valued at $88,523. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lantronix

Several hedge funds have recently made changes to their positions in the company. Heartland Advisors Inc. bought a new stake in Lantronix during the 1st quarter valued at $3,486,000. Truffle Hound Capital LLC purchased a new stake in shares of Lantronix during the 4th quarter worth $4,120,000. AMH Equity Ltd bought a new stake in Lantronix during the first quarter valued at about $500,000. Dimensional Fund Advisors LP boosted its position in Lantronix by 16.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,323,971 shares of the technology company's stock valued at $5,455,000 after purchasing an additional 186,479 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Lantronix in the fourth quarter valued at about $444,000. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

Lantronix Trading Up 6.4%

Shares of LTRX traded up $0.14 during mid-day trading on Wednesday, reaching $2.34. 300,720 shares of the company's stock traded hands, compared to its average volume of 319,957. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69. The stock's 50-day moving average is $2.17 and its two-hundred day moving average is $2.91. Lantronix has a 12 month low of $1.91 and a 12 month high of $4.55. The stock has a market cap of $91.00 million, a P/E ratio of -18.00 and a beta of 1.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Lake Street Capital reduced their price target on shares of Lantronix from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Needham & Company LLC cut their target price on Lantronix from $5.50 to $4.50 and set a "buy" rating for the company in a research report on Monday, May 12th. Wall Street Zen cut shares of Lantronix from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Canaccord Genuity Group lowered their target price on Lantronix from $4.50 to $3.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $5.13.

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.