Lantronix, Inc. (NASDAQ:LTRX) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 476,600 shares, a growth of 232.6% from the December 31st total of 143,300 shares. Based on an average daily volume of 340,200 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.9% of the shares of the company are sold short.
In other Lantronix news, CEO Paul H. Pickle bought 15,000 shares of the stock in a transaction that occurred on Friday, December 3rd. The shares were purchased at an average cost of $6.80 per share, for a total transaction of $102,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Bernhard Bruscha sold 705,000 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $7.05, for a total value of $4,970,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 709,167 shares of company stock worth $4,999,849 over the last quarter. Insiders own 25.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LTRX. Barclays PLC boosted its position in shares of Lantronix by 357.0% in the third quarter. Barclays PLC now owns 6,586 shares of the technology company’s stock worth $38,000 after buying an additional 5,145 shares during the period. Morgan Stanley boosted its position in shares of Lantronix by 93.2% in the second quarter. Morgan Stanley now owns 10,221 shares of the technology company’s stock worth $53,000 after buying an additional 4,930 shares during the period. Jane Street Group LLC acquired a new stake in shares of Lantronix in the third quarter worth $100,000. Citadel Advisors LLC acquired a new stake in shares of Lantronix in the second quarter worth $108,000. Finally, Jump Financial LLC acquired a new stake in shares of Lantronix in the third quarter worth $139,000. 17.15% of the stock is owned by institutional investors and hedge funds.
LTRX opened at $6.87 on Friday. The firm has a market cap of $204.34 million, a PE ratio of -32.71 and a beta of 2.33. The company has a quick ratio of 1.18, a current ratio of 2.04 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $7.36 and a 200-day simple moving average of $6.76. Lantronix has a fifty-two week low of $4.06 and a fifty-two week high of $10.25.
Lantronix (NASDAQ:LTRX) last released its quarterly earnings data on Thursday, November 11th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.07. The business had revenue of $27.71 million during the quarter. Lantronix had a negative return on equity of 13.12% and a negative net margin of 7.34%. During the same period in the prior year, the business earned ($0.01) earnings per share. On average, equities research analysts anticipate that Lantronix will post 0.04 EPS for the current fiscal year.
Several analysts recently commented on the company. Needham & Company LLC increased their price target on Lantronix from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, October 28th. Zacks Investment Research raised Lantronix from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 13th. Craig Hallum began coverage on Lantronix in a research note on Tuesday, October 12th. They set a “buy” rating and a $11.00 price target for the company. Finally, Lake Street Capital increased their price target on Lantronix from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Lantronix currently has an average rating of “Buy” and an average target price of $10.35.
About Lantronix
Lantronix, Inc engages in the provision of software as a service (SaaS), engineering services, and hardware for Edge Computing, the Internet of Things (IoT), and Remote Environment Management (REM). Its products and solutions include IoT, REM and Other. The company was founded by Bernhard Bruscha in June 1989 and is headquartered in Irvine, CA.