Lantronix, Inc. (NASDAQ:LTRX - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.79 and traded as high as $3.21. Lantronix shares last traded at $3.13, with a volume of 206,813 shares.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the company. Canaccord Genuity Group reduced their price target on Lantronix from $4.50 to $3.00 and set a "buy" rating for the company in a report on Monday, May 12th. Wall Street Zen cut Lantronix from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Needham & Company LLC reduced 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. Finally, Lake Street Capital reduced 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.
Check Out Our Latest Stock Analysis on LTRX
Lantronix Stock Down 0.6%
The business has a fifty day simple moving average of $2.53 and a 200 day simple moving average of $2.79. The firm has a market cap of $121.73 million, a price-to-earnings ratio of -14.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.68 and a quick ratio of 1.69.
Insider Activity
In related news, CEO Saleel Awsare purchased 15,011 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average price of $2.11 per share, with a total value of $31,673.21. Following the completion of the acquisition, the chief executive officer owned 268,391 shares in the company, valued at $566,305.01. This trade represents a 5.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 40,011 shares of company stock valued at $88,523 in the last ninety days. 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 made changes to their positions in LTRX. Jane Street Group LLC grew its position in Lantronix by 19.7% in the first quarter. Jane Street Group LLC now owns 71,293 shares of the technology company's stock worth $178,000 after acquiring an additional 11,728 shares during the period. American Century Companies Inc. grew its position in Lantronix by 23.6% in the first quarter. American Century Companies Inc. now owns 54,318 shares of the technology company's stock worth $135,000 after acquiring an additional 10,381 shares during the period. Heartland Advisors Inc. purchased a new position in Lantronix in the first quarter worth approximately $3,486,000. AMH Equity Ltd purchased a new position in Lantronix in the first quarter worth approximately $500,000. Finally, Jefferies Financial Group Inc. grew its position in Lantronix by 153.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 82,500 shares of the technology company's stock worth $340,000 after acquiring an additional 50,000 shares during the period. Institutional investors and hedge funds own 39.38% of the company's stock.
About Lantronix
(
Get Free Report)
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.
Further Reading
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