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

Iteris, Inc. (NASDAQ:ITI) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 381,500 shares, a growth 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 presently 0.6 days.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ITI. Maxim Group reissued a “hold” rating on shares of Iteris in a research report on Monday, August 12th. StockNews.com initiated coverage on Iteris in a research report on Friday, September 13th. They issued a “buy” rating for the company. B. Riley reaffirmed a “neutral” rating and set a $7.20 target price (down from $8.00) on shares of Iteris in a research report on Wednesday, August 21st. Finally, Northland Capmk downgraded Iteris from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th.

Iteris Price Performance

Iteris stock remained flat at $7.11 during mid-day trading on Wednesday. 490,532 shares of the company’s stock were exchanged, compared to its average volume of 320,294. The company has a fifty day moving average price of $5.98 and a two-hundred day moving average price of $5.08. The firm has a market capitalization of $305.55 million, a P/E ratio of 101.57 and a beta of 0.86. Iteris has a twelve month low of $3.97 and a twelve month high of $7.15.

Iteris (NASDAQ:ITI) last released its earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) 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 analyst estimates of $44.02 million. Research analysts anticipate that Iteris will post 0.18 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Iteris

A number of institutional investors have recently modified their holdings of ITI. Bfsg LLC lifted its position in shares of Iteris by 31.4% during the 2nd 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 in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Iteris by 17.5% in the fourth quarter. Panagora Asset Management Inc. now owns 32,962 shares of the technology company’s stock valued at $171,000 after acquiring an additional 4,904 shares in the last quarter. Bouvel Investment Partners LLC boosted its stake in shares of Iteris by 2.3% in the first quarter. Bouvel Investment Partners LLC now owns 301,740 shares of the technology company’s stock worth $1,491,000 after acquiring an additional 6,850 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Iteris during the first quarter worth approximately $43,000. Finally, Bank of New York Mellon Corp increased its position in shares of Iteris by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 134,539 shares of the technology company’s stock worth $583,000 after purchasing an additional 10,208 shares in the last quarter. 51.16% of the stock is currently owned by institutional investors and hedge funds.

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.