Iteris, Inc. (NASDAQ:ITI) Short Interest Update

Iteris, Inc. (NASDAQ:ITI) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 197,100 shares, a decline of 5.9% from the March 31st total of 209,400 shares. Based on an average daily volume of 125,600 shares, the days-to-cover ratio is currently 1.6 days.

Iteris Stock Performance

Shares of Iteris stock opened at $4.49 on Tuesday. The business’s 50 day moving average price is $4.83 and its 200 day moving average price is $4.70. The company has a market cap of $192.67 million, a price-to-earnings ratio of 74.83 and a beta of 0.67. Iteris has a one year low of $3.72 and a one year high of $5.49.

Iteris (NASDAQ:ITI) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $42.13 million for the quarter, compared to analyst estimates of $41.39 million. Iteris had a return on equity of 3.76% and a net margin of 1.45%. On average, analysts predict that Iteris will post 0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Iteris news, major shareholder Samjo Management, Llc sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $4.93, for a total value of $152,830.00. Following the completion of the sale, the insider now owns 6,432,800 shares of the company’s stock, valued at $31,713,704. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder Samjo Management, Llc sold 31,000 shares of Iteris stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.93, for a total transaction of $152,830.00. Following the completion of the transaction, the insider now directly owns 6,432,800 shares of the company’s stock, valued at approximately $31,713,704. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO J. Joseph Bergera sold 10,714 shares of Iteris stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $5.19, for a total transaction of $55,605.66. Following the completion of the transaction, the chief executive officer now directly owns 182,424 shares of the company’s stock, valued at approximately $946,780.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,968 shares of company stock worth $675,777. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bfsg LLC acquired a new position in shares of Iteris in the 4th quarter worth approximately $50,000. Allspring Global Investments Holdings LLC purchased a new stake in Iteris in the third quarter valued at approximately $46,000. SG Americas Securities LLC acquired a new position in Iteris during the third quarter worth $52,000. Panagora Asset Management Inc. purchased a new position in shares of Iteris during the third quarter worth $116,000. Finally, Whittier Trust Co. grew its stake in shares of Iteris by 9.3% in the third quarter. Whittier Trust Co. now owns 44,602 shares of the technology company’s stock valued at $185,000 after buying an additional 3,794 shares in the last quarter. 51.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ITI shares. Maxim Group started coverage on shares of Iteris in a research report on Tuesday. They set a “buy” rating and a $11.00 price objective for the company. StockNews.com downgraded shares of Iteris from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, B. Riley upped their price objective on shares of Iteris from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Friday, February 9th.

Iteris Company Profile

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.