Lantronix (NASDAQ:LTRX) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Lantronix, Inc. stock recently crossed above its 200-day moving average at $3.16, trading as high as $5.34 before settling at $4.94 during Thursday's session.
• Multiple analyst upgrades have boosted Lantronix's target price, with Lake Street Capital raising it to $5.00 and Needham & Company increasing it to $5.50, while the company maintains a consensus rating of "Moderate Buy."
• Insider activity saw major shareholder Bernhard Bruscha sell 12,993 shares at an average price of $4.64, while institutional investors collectively hold 39.38% of the company's stock.

Lantronix, Inc. (NASDAQ:LTRX - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.16 and traded as high as $5.34. Lantronix shares last traded at $4.94, with a volume of 391,755 shares traded.

Analyst Ratings Changes

A number of research firms have commented on LTRX. Lake Street Capital raised their target price on Lantronix from $4.00 to $5.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Needham & Company LLC lifted their price objective on Lantronix from $4.50 to $5.50 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Lantronix in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.50.

Lantronix Trading Down 4.3%

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 business has a fifty day simple moving average of $4.39 and a 200 day simple moving average of $3.16. The company has a market cap of $193.99 million, a P/E ratio of -16.47 and a beta of 1.39.

Insider Activity

In other news, major shareholder Bernhard Bruscha sold 12,993 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $4.64, for a total value of $60,287.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LTRX. Heartland Advisors Inc. bought a new stake in shares of Lantronix during the 1st quarter worth about $3,486,000. Marshall Wace LLP raised its holdings in Lantronix by 10.6% during the 2nd quarter. Marshall Wace LLP now owns 446,164 shares of the technology company's stock worth $1,280,000 after buying an additional 42,838 shares during the period. AMH Equity Ltd grew its position in Lantronix by 24.5% during the 2nd quarter. AMH Equity Ltd now owns 250,000 shares of the technology company's stock worth $718,000 after purchasing an additional 49,219 shares in the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Lantronix in the 2nd quarter valued at about $302,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Lantronix in the second quarter worth $268,000. 39.38% of the stock is owned by institutional investors and hedge funds.

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.

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