Lantronix (NASDAQ:LTRX) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Lantronix, Inc. (NASDAQ:LTRX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.67 and traded as high as $4.29. Lantronix shares last traded at $4.07, with a volume of 397,029 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on LTRX. StockNews.com downgraded Lantronix from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group dropped their target price on Lantronix from $7.50 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Needham & Company LLC reduced their price objective on shares of Lantronix from $7.00 to $5.50 and set a “buy” rating on the stock in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $6.50.

Lantronix Price Performance

The business has a 50-day moving average price of $3.43 and a 200 day moving average price of $3.67. The stock has a market cap of $156.59 million, a PE ratio of -29.07 and a beta of 2.04. The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16.

Insider Activity

In related news, CEO Saleel Awsare purchased 80,000 shares of Lantronix stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $2.66 per share, for a total transaction of $212,800.00. Following the completion of the purchase, the chief executive officer now directly owns 233,184 shares of the company’s stock, valued at $620,269.44. The trade was a 52.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Hoshi Printer acquired 15,000 shares of Lantronix stock in a transaction that occurred on Tuesday, November 26th. The shares were purchased at an average price of $2.90 per share, with a total value of $43,500.00. Following the transaction, the director now owns 176,075 shares of the company’s stock, valued at $510,617.50. The trade was a 9.31 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its stake in Lantronix by 89.3% in the 2nd quarter. Acadian Asset Management LLC now owns 196,702 shares of the technology company’s stock worth $697,000 after buying an additional 92,818 shares in the last quarter. American Century Companies Inc. grew its position in Lantronix by 27.6% in the second quarter. American Century Companies Inc. now owns 26,319 shares of the technology company’s stock worth $93,000 after acquiring an additional 5,693 shares in the last quarter. Herald Investment Management Ltd increased its position in shares of Lantronix by 17.6% during the 2nd quarter. Herald Investment Management Ltd now owns 1,000,000 shares of the technology company’s stock valued at $3,550,000 after purchasing an additional 150,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Lantronix by 18.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company’s stock valued at $3,629,000 after acquiring an additional 159,671 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Lantronix by 30.4% during the second quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company’s stock valued at $2,323,000 after buying an additional 152,400 shares during the period. 39.38% of the stock is owned by hedge funds and other institutional investors.

Lantronix Company Profile

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.