Itron, Inc. (NASDAQ:ITRI) Sees Large Growth in Short Interest

Itron, Inc. (NASDAQ:ITRI - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,580,000 shares, a growth of 5.3% from the February 29th total of 1,500,000 shares. Based on an average daily trading volume, of 386,400 shares, the short-interest ratio is currently 4.1 days.

Itron Stock Down 0.0 %

Shares of Itron stock traded down $0.01 on Friday, hitting $91.50. The company had a trading volume of 401,179 shares, compared to its average volume of 411,553. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 43.57, a P/E/G ratio of 0.99 and a beta of 1.41. Itron has a 1 year low of $50.60 and a 1 year high of $96.73. The stock has a 50 day moving average of $84.46 and a 200-day moving average of $72.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.75 by $0.48. The firm had revenue of $577.17 million during the quarter, compared to the consensus estimate of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, sell-side analysts forecast that Itron will post 3.61 earnings per share for the current year.

Insider Buying and Selling at Itron

In other Itron news, CEO Thomas Deitrich sold 1,912 shares of the company's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the sale, the chief executive officer now owns 169,073 shares in the company, valued at approximately $12,743,032.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Itron news, CEO Thomas Deitrich sold 1,912 shares of the company's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the sale, the chief executive officer now owns 169,073 shares in the company, valued at approximately $12,743,032.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jerome J. Lande sold 14,896 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,467 shares of company stock worth $2,752,520. Insiders own 1.45% of the company's stock.

Institutional Trading of Itron

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in shares of Itron during the fourth quarter valued at approximately $27,000. State of Wyoming purchased a new stake in shares of Itron during the fourth quarter valued at approximately $29,000. Quarry LP increased its position in shares of Itron by 240.5% during the second quarter. Quarry LP now owns 429 shares of the scientific and technical instruments company's stock valued at $31,000 after acquiring an additional 303 shares during the last quarter. Covestor Ltd increased its position in shares of Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company's stock valued at $34,000 after acquiring an additional 549 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Itron during the fourth quarter valued at approximately $50,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on ITRI shares. JPMorgan Chase & Co. upped their target price on Itron from $77.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, March 13th. Canaccord Genuity Group upgraded Itron from a "hold" rating to a "buy" rating and upped their target price for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. Piper Sandler upped their target price on Itron from $91.00 to $105.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. Raymond James lowered Itron from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 4th. Finally, Canaccord Genuity Group upgraded Itron from a "hold" rating to a "buy" rating and upped their target price for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.80.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.