Lantronix, Inc. (NASDAQ:LTRX) Sees Significant Decline in Short Interest

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

Analysts Set New Price Targets

A number of brokerages have weighed in on LTRX. Lake Street Capital lowered their target price on Lantronix from $5.00 to $4.00 and set a "buy" rating for the company in a report on Friday, May 9th. Needham & Company LLC lowered their target price on Lantronix from $5.50 to $4.50 and set a "buy" rating for the company in a report on Monday, May 12th. Wall Street Zen downgraded Lantronix from a "buy" rating to a "hold" rating in a report 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 report on Monday, May 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.13.

Insiders Place Their Bets

In other Lantronix news, CEO Saleel Awsare bought 15,011 shares of the stock in a transaction on Tuesday, May 13th. The stock was acquired at an average cost of $2.11 per share, for a total transaction of $31,673.21. Following the completion of the acquisition, the chief executive officer now owns 268,391 shares in the company, valued at $566,305.01. This trade represents a 5.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders acquired 40,011 shares of company stock worth $88,523. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lantronix

Several hedge funds and other institutional investors have recently modified their holdings of the company. Heartland Advisors Inc. bought a new stake in shares of Lantronix during the first quarter valued at approximately $3,486,000. Dimensional Fund Advisors LP grew its holdings 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 worth $5,455,000 after buying an additional 186,479 shares in the last quarter. Truffle Hound Capital LLC bought a new stake in Lantronix during the fourth quarter worth $4,120,000. Marshall Wace LLP grew its holdings in Lantronix by 16.5% during the fourth quarter. Marshall Wace LLP now owns 483,868 shares of the technology company's stock worth $1,994,000 after buying an additional 68,669 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Lantronix by 3.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 284,108 shares of the technology company's stock worth $1,171,000 after buying an additional 8,992 shares in the last quarter. Institutional investors own 39.38% of the company's stock.

Lantronix Stock Down 0.9%

Shares of NASDAQ LTRX traded down $0.02 during midday trading on Friday, hitting $2.30. 261,150 shares of the stock traded hands, compared to its average volume of 320,691. The company has a market cap of $89.45 million, a PE ratio of -17.69 and a beta of 1.44. Lantronix has a one year low of $1.91 and a one year high of $4.55. The business has a 50 day moving average price of $2.16 and a two-hundred day moving average price of $2.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.69 and a current ratio of 2.56.

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.