Iteris Inc (NASDAQ:ITI) Sees Significant Increase in Short Interest

Iteris Inc (NASDAQ:ITI) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,400,000 shares, a growth of 32.1% from the August 30th total of 1,060,000 shares. Based on an average daily volume of 218,300 shares, the short-interest ratio is presently 6.4 days. Approximately 3.7% of the company’s shares are short sold.

A number of equities research analysts have recently weighed in on the stock. TheStreet raised shares of Iteris from a “d+” rating to a “c-” rating in a research note on Wednesday, August 28th. ValuEngine lowered shares of Iteris from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub raised shares of Iteris from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Dougherty & Co assumed coverage on shares of Iteris in a research note on Tuesday, August 27th. They set a “buy” rating and a $6.50 price objective on the stock. Finally, Northland Securities set a $9.00 price objective on shares of Iteris and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $7.38.

NASDAQ:ITI traded up $0.01 during mid-day trading on Monday, hitting $5.09. 155,372 shares of the company’s stock were exchanged, compared to its average volume of 168,070. Iteris has a one year low of $3.24 and a one year high of $6.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.55 and a quick ratio of 2.46. The business has a fifty day moving average price of $5.56 and a 200 day moving average price of $5.11. The company has a market cap of $205.28 million, a PE ratio of -46.27 and a beta of 0.29.

Iteris (NASDAQ:ITI) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Iteris had a negative net margin of 7.79% and a negative return on equity of 11.35%. The business had revenue of $26.61 million for the quarter, compared to analyst estimates of $26.66 million. On average, equities analysts forecast that Iteris will post -0.09 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. LPL Financial LLC boosted its stake in Iteris by 3.4% during the second quarter. LPL Financial LLC now owns 147,300 shares of the technology company’s stock worth $762,000 after acquiring an additional 4,900 shares in the last quarter. TIAA FSB boosted its stake in Iteris by 4.8% during the third quarter. TIAA FSB now owns 108,359 shares of the technology company’s stock worth $623,000 after acquiring an additional 5,000 shares in the last quarter. Strs Ohio boosted its stake in Iteris by 5.2% during the second quarter. Strs Ohio now owns 106,300 shares of the technology company’s stock worth $549,000 after acquiring an additional 5,300 shares in the last quarter. Northern Trust Corp boosted its stake in Iteris by 2.7% during the second quarter. Northern Trust Corp now owns 348,661 shares of the technology company’s stock worth $1,803,000 after acquiring an additional 9,302 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Iteris during the second quarter worth about $62,000. 45.00% of the stock is currently owned by institutional investors and hedge funds.

Iteris Company Profile

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

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