Lantronix (NASDAQ:LTRX) Share Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Lantronix's share price surpassed its 200-day moving average, trading at $4.79 with a high of $5.00 during recent trading sessions.
• Analysts are optimistic about the stock, with a consensus buy rating and an average target price of $4.17, while Lake Street Capital has set a target at $5.00.
• In an insider trading move, major shareholder Bernhard Bruscha sold 12,993 shares at an average price of $4.64, totaling over $60,000.

Lantronix, Inc. (NASDAQ:LTRX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.89 and traded as high as $5.00. Lantronix shares last traded at $4.79, with a volume of 404,057 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LTRX. Needham & Company LLC reissued a "buy" rating and set a $4.50 target price on shares of Lantronix in a report on Thursday, August 28th. Lake Street Capital boosted their target price on Lantronix from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $4.17.

Lantronix Trading Down 2.6%

The company has a market capitalization of $187.53 million, a price-to-earnings ratio of -15.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.68 and a current ratio of 2.54. The firm has a fifty day moving average price of $3.77 and a 200-day moving average price of $2.89.

Insider Activity

In other news, major shareholder Bernhard Bruscha sold 12,993 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $4.64, for a total transaction of $60,287.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

Institutional Trading of Lantronix

Several institutional investors and hedge funds have recently modified their holdings of LTRX. R Squared Ltd bought a new stake in shares of Lantronix during the 2nd quarter worth $32,000. Atria Wealth Solutions Inc. bought a new stake in shares of Lantronix during the 2nd quarter worth $60,000. XTX Topco Ltd bought a new stake in shares of Lantronix during the 2nd quarter worth $86,000. Wolverine Trading LLC bought a new stake in shares of Lantronix during the 4th quarter worth $95,000. Finally, American Century Companies Inc. lifted its position in shares of Lantronix by 23.6% during the 1st quarter. American Century Companies Inc. now owns 54,318 shares of the technology company's stock worth $135,000 after buying an additional 10,381 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.