Lantronix (NASDAQ:LTRX) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Lantronix, Inc. (NASDAQ:LTRX - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.65 and traded as high as $3.69. Lantronix shares last traded at $3.64, with a volume of 178,982 shares changing hands.

Analyst Ratings Changes

A number of analysts have issued reports on LTRX shares. Canaccord Genuity Group cut their target price on Lantronix from $7.50 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Needham & Company LLC cut their price objective on Lantronix from $7.00 to $5.50 and set a "buy" rating on the stock in a report on Monday, November 11th. Finally, StockNews.com lowered Lantronix from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $6.50.

Lantronix Price Performance

The company has a current ratio of 2.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average price is $3.45 and its two-hundred day moving average price is $3.65. The firm has a market capitalization of $140.05 million, a price-to-earnings ratio of -26.00 and a beta of 2.04.

Insider Activity at Lantronix

In other news, major shareholder Bernhard Bruscha sold 25,000 shares of the business's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $4.17, for a total value of $104,250.00. Following the completion of the sale, the insider now directly owns 5,218,971 shares of the company's stock, valued at approximately $21,763,109.07. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hoshi Printer purchased 15,000 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were purchased at an average cost of $2.90 per share, for a total transaction of $43,500.00. Following the transaction, the director now owns 176,075 shares of the company's stock, valued at $510,617.50. This trade represents a 9.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lantronix

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Lantronix by 30.4% in the second quarter. Renaissance Technologies LLC now owns 654,494 shares of the technology company's stock worth $2,323,000 after acquiring an additional 152,400 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Lantronix by 65.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 855,234 shares of the technology company's stock worth $3,036,000 after acquiring an additional 336,781 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lantronix by 18.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,022,193 shares of the technology company's stock worth $3,629,000 after acquiring an additional 159,671 shares during the period. Herald Investment Management Ltd raised its stake 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 worth $3,550,000 after buying an additional 150,000 shares during the last quarter. Finally, Walleye Capital LLC boosted its position in shares of Lantronix by 61.9% in the 3rd quarter. Walleye Capital LLC now owns 71,467 shares of the technology company's stock worth $294,000 after buying an additional 27,325 shares in the last quarter. Institutional investors and hedge funds own 39.38% of the company's stock.

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.