Iteris, Inc. (NASDAQ:ITI) Short Interest Up 6.0% in September

Posted by Defense World Staff on Oct 18th, 2023

Iteris, Inc. (NASDAQ:ITI – Get Free Report) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 450,900 shares, an increase of 6.0% from the September 15th total of 425,300 shares. Based on an average daily volume of 104,800 shares, the short-interest ratio is presently 4.3 days.

Institutional Trading of Iteris

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Iteris by 211.2% in the second quarter. BlackRock Inc. now owns 2,356,101 shares of the technology company’s stock valued at $9,330,000 after buying an additional 1,599,016 shares in the last quarter. Millennium Management LLC bought a new stake in Iteris during the 2nd quarter worth $1,600,000. State Street Corp increased its holdings in Iteris by 307.3% in the 2nd quarter. State Street Corp now owns 597,655 shares of the technology company’s stock worth $2,367,000 after purchasing an additional 450,912 shares in the last quarter. Geode Capital Management LLC raised its position in Iteris by 109.9% in the second quarter. Geode Capital Management LLC now owns 820,725 shares of the technology company’s stock valued at $3,250,000 after purchasing an additional 429,750 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Iteris by 333.8% during the second quarter. Northern Trust Corp now owns 355,704 shares of the technology company’s stock valued at $1,409,000 after purchasing an additional 273,698 shares in the last quarter. Institutional investors own 64.84% of the company’s stock.

Iteris Stock Performance

Iteris stock opened at $4.35 on Wednesday. The stock has a 50-day simple moving average of $4.40 and a 200 day simple moving average of $4.35. The stock has a market capitalization of $185.18 million, a P/E ratio of -24.17 and a beta of 0.84. Iteris has a 52 week low of $2.62 and a 52 week high of $5.00.

Iteris (NASDAQ:ITI – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $43.55 million for the quarter, compared to analyst estimates of $37.76 million. Iteris had a negative net margin of 4.74% and a negative return on equity of 12.19%. Research analysts forecast that Iteris will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

ITI has been the subject of a number of research analyst reports. B. Riley boosted their target price on shares of Iteris from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. StockNews.com began coverage on Iteris in a research report on Thursday, October 5th. They issued a “strong-buy” rating on the stock.

Check Out Our Latest Research Report on Iteris

Iteris Company Profile

(Get Free Report)

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.