Short Interest in Iteris Inc (NASDAQ:ITI) Declines By 25.7%

Iteris Inc (NASDAQ:ITI) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 1,067,100 shares, a decrease of 25.7% from the June 30th total of 1,436,000 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average trading volume of 200,500 shares, the short-interest ratio is currently 5.3 days.

Several institutional investors have recently added to or reduced their stakes in ITI. LPL Financial LLC increased its stake in Iteris by 3.4% in the second quarter. LPL Financial LLC now owns 147,300 shares of the technology company’s stock valued at $762,000 after acquiring an additional 4,900 shares during the last quarter. Strs Ohio increased its stake in Iteris by 5.2% in the second quarter. Strs Ohio now owns 106,300 shares of the technology company’s stock valued at $549,000 after acquiring an additional 5,300 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Iteris by 22.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 65,956 shares of the technology company’s stock valued at $341,000 after acquiring an additional 11,905 shares during the last quarter. Geode Capital Management LLC increased its stake in Iteris by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 267,638 shares of the technology company’s stock valued at $998,000 after acquiring an additional 12,233 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Iteris in the first quarter valued at $53,000. 40.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Iteris stock traded down $0.07 during trading on Monday, hitting $5.11. The stock had a trading volume of 177,600 shares, compared to its average volume of 149,105. The stock has a market capitalization of $205.78 million, a price-to-earnings ratio of -46.45 and a beta of 0.29. Iteris has a 12 month low of $3.24 and a 12 month high of $5.73. The company’s 50-day moving average price is $5.29.

Iteris (NASDAQ:ITI) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $26.66 million. Iteris had a negative net margin of 7.79% and a negative return on equity of 13.27%. Analysts anticipate that Iteris will post -0.09 earnings per share for the current year.

ITI has been the topic of several recent research reports. ValuEngine upgraded Iteris from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 17th. Dougherty & Co restated a “buy” rating on shares of Iteris in a research report on Wednesday, July 10th. Zacks Investment Research downgraded Iteris from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Northland Securities restated a “buy” rating and set a $9.00 target price on shares of Iteris in a research report on Monday, June 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $7.67.

About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

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