Lantronix Inc (NASDAQ:LTRX) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 84,800 shares, an increase of 25.6% from the August 15th total of 67,500 shares. Based on an average daily volume of 139,600 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.6% of the company’s shares are sold short.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley raised its position in shares of Lantronix by 149.9% in the 1st quarter. Morgan Stanley now owns 15,253 shares of the technology company’s stock valued at $30,000 after purchasing an additional 9,150 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Lantronix in the second quarter valued at $39,000. Goldman Sachs Group Inc. bought a new position in Lantronix during the 2nd quarter valued at $38,000. Finally, Engineers Gate Manager LP acquired a new position in Lantronix during the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 14.02% of the company’s stock.
LTRX traded down $0.20 during trading hours on Wednesday, reaching $4.26. 219,400 shares of the stock traded hands, compared to its average volume of 137,318. Lantronix has a fifty-two week low of $1.58 and a fifty-two week high of $5.48. The company has a market cap of $124.70 million, a price-to-earnings ratio of -10.62 and a beta of 2.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.03 and a quick ratio of 1.19. The firm’s fifty day simple moving average is $4.65 and its two-hundred day simple moving average is $3.44.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Lantronix from a “sell” rating to a “hold” rating in a research report on Tuesday, August 11th. ValuEngine lowered shares of Lantronix from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective (up from $4.00) on shares of Lantronix in a research report on Friday, September 11th. Finally, TheStreet raised Lantronix from a “d+” rating to a “c-” rating in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $5.00.
Lantronix, Inc provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access.
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