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

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

Insider Buying and Selling at Iteris

In other news, CEO J. Joseph Bergera sold 10,714 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $5.19, for a total value of $55,605.66. Following the transaction, the chief executive officer now directly owns 182,424 shares of the company’s stock, valued at $946,780.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO J. Joseph Bergera sold 10,714 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $5.19, for a total value of $55,605.66. Following the transaction, the chief executive officer now directly owns 182,424 shares of the company’s stock, valued at $946,780.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Samjo Management, Llc sold 72,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $5.36, for a total transaction of $385,920.00. Following the completion of the transaction, the insider now directly owns 6,320,800 shares in the company, valued at $33,879,488. The disclosure for this sale can be found here. Insiders sold a total of 98,968 shares of company stock worth $522,947 over the last quarter. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ITI. Allspring Global Investments Holdings LLC bought a new stake in shares of Iteris in the 3rd quarter valued at $46,000. Bfsg LLC bought a new stake in shares of Iteris in the 4th quarter valued at $50,000. SG Americas Securities LLC bought a new stake in shares of Iteris in the 3rd quarter valued at $52,000. Panagora Asset Management Inc. bought a new stake in shares of Iteris in the 3rd quarter valued at $116,000. Finally, Whittier Trust Co. increased its stake in shares of Iteris by 9.3% in the 3rd quarter. Whittier Trust Co. now owns 44,602 shares of the technology company’s stock valued at $185,000 after acquiring an additional 3,794 shares in the last quarter. Institutional investors own 51.16% of the company’s stock.

Iteris Price Performance

NASDAQ:ITI opened at $4.54 on Thursday. The firm’s 50 day simple moving average is $4.81 and its 200 day simple moving average is $4.70. Iteris has a one year low of $3.72 and a one year high of $5.49. The company has a market cap of $194.81 million, a PE ratio of 75.67 and a beta of 0.67.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ITI shares. Maxim Group began coverage on shares of Iteris in a research report on Tuesday. They set a “buy” rating and a $11.00 price target on the stock. 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 increased their price objective on shares of Iteris from $6.00 to $8.50 and gave the stock 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.