Lantronix, Inc. (NASDAQ:LTRX) Short Interest Down 20.3% in May

Lantronix, Inc. (NASDAQ:LTRX) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 86,000 shares, a decline of 20.3% from the May 15th total of 107,900 shares. Based on an average daily trading volume, of 285,300 shares, the days-to-cover ratio is presently 0.3 days.

Insider Activity

In other Lantronix news, CEO Saleel Awsare purchased 10,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $3.66 per share, with a total value of $36,600.00. Following the completion of the acquisition, the chief executive officer now owns 30,000 shares in the company, valued at $109,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lantronix news, Director Jason Cohenour purchased 21,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $3.63 per share, with a total value of $76,230.00. Following the completion of the acquisition, the director now owns 33,909 shares in the company, valued at $123,089.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Saleel Awsare bought 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $3.66 per share, for a total transaction of $36,600.00. Following the completion of the purchase, the chief executive officer now owns 30,000 shares in the company, valued at $109,800. The disclosure for this purchase can be found here. Corporate insiders own 17.30% of the company’s stock.

Institutional Trading of Lantronix

A number of hedge funds have recently bought and sold shares of LTRX. Citigroup Inc. acquired a new stake in Lantronix in the 3rd quarter valued at about $35,000. Algert Global LLC acquired a new stake in shares of Lantronix during the 3rd quarter worth approximately $50,000. SG Americas Securities LLC acquired a new stake in shares of Lantronix during the 1st quarter worth approximately $55,000. Jump Financial LLC acquired a new stake in shares of Lantronix during the 3rd quarter worth approximately $66,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Lantronix during the 3rd quarter worth approximately $109,000. Institutional investors and hedge funds own 39.38% of the company’s stock.

Lantronix Price Performance

Shares of LTRX traded down $0.10 during mid-day trading on Friday, hitting $3.59. 105,195 shares of the company were exchanged, compared to its average volume of 214,979. Lantronix has a 1-year low of $3.08 and a 1-year high of $6.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.32 and a current ratio of 2.25. The company has a 50 day moving average of $3.61 and a 200-day moving average of $4.55. The stock has a market cap of $134.91 million, a price-to-earnings ratio of -19.94 and a beta of 2.09.

Lantronix (NASDAQ:LTRX) last released its quarterly earnings results on Monday, April 29th. The technology company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Lantronix had a negative net margin of 4.48% and a negative return on equity of 8.47%. The firm had revenue of $41.18 million during the quarter, compared to the consensus estimate of $40.80 million. Analysts expect that Lantronix will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Roth Mkm reissued a “buy” rating and set a $9.00 target price on shares of Lantronix in a research note on Tuesday, April 30th. StockNews.com raised shares of Lantronix from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 25th. Lake Street Capital lowered their target price on shares of Lantronix from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Lantronix in a research note on Tuesday, April 30th. Finally, Craig Hallum lowered their target price on shares of Lantronix from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $8.50.

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.