Iteris, Inc. (NASDAQ:ITI) Sees Large Increase in Short Interest

Iteris, Inc. (NASDAQ:ITI) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 381,500 shares, an increase of 8.8% from the August 15th total of 350,700 shares. Based on an average daily trading volume, of 681,600 shares, the short-interest ratio is currently 0.6 days.

Iteris Stock Performance

Shares of Iteris stock remained flat at $7.11 during trading hours on Wednesday. 490,532 shares of the stock were exchanged, compared to its average volume of 320,294. The business’s 50 day simple moving average is $5.98 and its 200 day simple moving average is $5.08. The stock has a market cap of $305.55 million, a PE ratio of 101.57 and a beta of 0.86. Iteris has a 12-month low of $3.97 and a 12-month high of $7.15.

Iteris (NASDAQ:ITI) last announced its earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The firm had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. Research analysts anticipate that Iteris will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ITI shares. Northland Capmk cut shares of Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. StockNews.com initiated coverage on shares of Iteris in a research note on Friday, September 13th. They issued a “buy” rating on the stock. Maxim Group reissued a “hold” rating on shares of Iteris in a research report on Monday, August 12th. Finally, B. Riley restated a “neutral” rating and issued a $7.20 price objective (down from $8.00) on shares of Iteris in a report on Wednesday, August 21st.

Insider Buying and Selling

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $6.99, for a total value of $5,929,617.00. Following the completion of the transaction, the insider now owns 4,165,000 shares in the company, valued at approximately $29,113,350. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in Iteris during the 1st quarter worth $43,000. Bfsg LLC increased its stake in shares of Iteris by 31.4% during the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock valued at $55,000 after buying an additional 3,038 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Iteris during the first quarter valued at $66,000. Cubist Systematic Strategies LLC bought a new stake in shares of Iteris in the second quarter valued at about $91,000. Finally, Perritt Capital Management Inc. lifted its stake in Iteris by 150.0% in the first quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock worth $124,000 after acquiring an additional 15,000 shares during the period. Hedge funds and other institutional investors own 51.16% of the company’s stock.

About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.