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

Lantronix, Inc. (NASDAQ:LTRX - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.69 and traded as high as $3.78. Lantronix shares last traded at $3.73, with a volume of 275,533 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $5.50 price objective on shares of Lantronix in a research note on Tuesday, January 21st. Canaccord Genuity Group decreased their price target on shares of Lantronix from $7.50 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Finally, StockNews.com downgraded Lantronix from a "strong-buy" rating to a "buy" rating in a report on Monday, November 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $6.50.

Lantronix Stock Up 1.6 %

The firm's 50 day moving average price is $3.64 and its two-hundred day moving average price is $3.69. The firm has a market capitalization of $151.21 million, a PE ratio of -28.07 and a beta of 1.94. The company has a quick ratio of 1.78, a current ratio of 2.61 and a debt-to-equity ratio of 0.16.

Lantronix (NASDAQ:LTRX - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.16). Lantronix had a negative net margin of 3.17% and a negative return on equity of 2.91%. The firm had revenue of $34.42 million during the quarter, compared to analysts' expectations of $37.10 million. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, research analysts forecast that Lantronix, Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Lantronix

In related news, Director Hoshi Printer acquired 15,000 shares of Lantronix 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 purchase, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saleel Awsare bought 80,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $2.66 per share, with a total value of $212,800.00. Following the transaction, the chief executive officer now directly owns 233,184 shares in the company, valued at approximately $620,269.44. The trade was a 52.22 % increase in their position. The disclosure for this purchase can be found here. 1.60% of the stock is owned by insiders.

Institutional Trading of Lantronix

Several institutional investors and hedge funds have recently bought and sold shares of LTRX. Barclays PLC increased its holdings in shares of Lantronix by 235.9% in the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company's stock valued at $257,000 after acquiring an additional 43,770 shares during the last quarter. Geode Capital Management LLC increased its stake in Lantronix by 3.2% during the third quarter. Geode Capital Management LLC now owns 338,202 shares of the technology company's stock valued at $1,394,000 after purchasing an additional 10,413 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Lantronix during the third quarter worth $60,000. Walleye Capital LLC boosted its holdings 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 valued at $294,000 after buying an additional 27,325 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of Lantronix in the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 39.38% of the company's stock.

About Lantronix

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.