Lantronix, Inc. (NASDAQ:LTRX) Given Average Recommendation of "Buy" by Analysts

Lantronix, Inc. (NASDAQ:LTRX - Get Free Report) has been given an average rating of "Buy" by the five ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.00.

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of Lantronix from $5.00 to $4.50 and set a "buy" rating on the stock in a report on Friday, February 7th. Needham & Company LLC restated a "buy" rating and set a $5.50 price target on shares of Lantronix in a research note on Tuesday, January 21st. Finally, Lake Street Capital decreased their price target on shares of Lantronix from $6.00 to $5.00 and set a "buy" rating for the company in a report on Friday, February 7th.

Lantronix Trading Down 7.4 %

Lantronix stock traded down $0.16 during trading hours on Friday, hitting $2.01. The company had a trading volume of 53,473 shares, compared to its average volume of 322,501. The firm has a market cap of $77.97 million, a P/E ratio of -15.50 and a beta of 1.82. The company has a 50-day moving average price of $2.77 and a two-hundred day moving average price of $3.35. Lantronix has a 1 year low of $1.91 and a 1 year high of $4.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.69 and a current ratio of 2.56.

Lantronix (NASDAQ:LTRX - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.13). Lantronix had a negative return on equity of 2.62% and a negative net margin of 3.15%. On average, sell-side analysts anticipate that Lantronix will post -0.23 earnings per share for the current year.

Insider Activity

In other news, Director Kevin S. Palatnik bought 20,000 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $2.54 per share, with a total value of $50,800.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $50,800. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Saleel Awsare bought 15,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $2.53 per share, for a total transaction of $37,950.00. Following the transaction, the chief executive officer now owns 253,380 shares of the company's stock, valued at approximately $641,051.40. This represents a 6.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 50,000 shares of company stock valued at $129,250 in the last ninety days. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Lantronix

Several hedge funds and other institutional investors have recently modified their holdings of the business. Amundi acquired a new stake in Lantronix in the 4th quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lantronix during the third quarter worth $60,000. Balyasny Asset Management L.P. purchased a new stake in Lantronix in the 4th quarter valued at $79,000. Wolverine Trading LLC acquired a new stake in shares of Lantronix in the 4th quarter worth $95,000. Finally, Algert Global LLC increased its stake in shares of Lantronix by 49.5% in the 4th quarter. Algert Global LLC now owns 27,728 shares of the technology company's stock worth $114,000 after acquiring an additional 9,180 shares during the last quarter. 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.