Lantronix (NASDAQ:LTRX) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Lantronix shares have recently surpassed their 200-day moving average, with a notable trading high of $4.86, closing at $4.84.
• Analysts are optimistic about the company, with Lake Street Capital raising its price target from $4.00 to $5.00 and maintaining a "buy" rating.
• Institutional investors hold 39.38% of Lantronix stock, with significant recent purchases including Heartland Advisors acquiring a stake worth $3.486 million.

Lantronix, Inc. (NASDAQ:LTRX - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.81 and traded as high as $4.86. Lantronix shares last traded at $4.84, with a volume of 814,228 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LTRX. Lake Street Capital increased their target price on shares of Lantronix from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Needham & Company LLC restated a "buy" rating and issued a $4.50 price target on shares of Lantronix in a report on Thursday, August 28th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $4.17.

Lantronix Stock Up 1.7%

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.54 and a quick ratio of 1.68. The firm's 50-day moving average is $3.70 and its 200 day moving average is $2.86. The stock has a market cap of $186.75 million, a price-to-earnings ratio of -15.90 and a beta of 1.44.

Insiders Place Their Bets

In other Lantronix news, major shareholder Bernhard Bruscha sold 12,993 shares of the business's stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Lantronix

A number of large investors have recently modified their holdings of the company. R Squared Ltd acquired a new stake in Lantronix during the 2nd quarter worth approximately $32,000. Atria Wealth Solutions Inc. purchased a new stake in Lantronix during the second quarter worth approximately $60,000. XTX Topco Ltd purchased a new stake in Lantronix during the second quarter worth approximately $86,000. Wolverine Trading LLC purchased a new stake in Lantronix during the fourth quarter worth approximately $95,000. Finally, American Century Companies Inc. grew its stake in Lantronix by 23.6% during the first 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 period. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

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.