Lantronix (NASDAQ:LTRX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Lantronix (NASDAQ:LTRX) from a strong-buy rating to a buy rating in a research note released on Friday.

A number of other equities analysts also recently issued reports on the stock. Craig Hallum cut their price target on shares of Lantronix from $7.00 to $6.00 and set a buy rating for the company in a report on Tuesday, April 30th. Lake Street Capital decreased their price target on Lantronix from $8.00 to $7.00 and set a buy rating on the stock in a research note on Tuesday, April 30th. Roth Mkm reaffirmed a buy rating and issued a $9.00 price objective on shares of Lantronix in a research note on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a buy rating and set a $7.00 target price on shares of Lantronix in a research report on Tuesday, April 30th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $8.50.

Lantronix Stock Performance

Shares of Lantronix stock traded down $0.09 on Friday, reaching $4.01. 174,470 shares of the stock were exchanged, compared to its average volume of 325,055. The firm has a market capitalization of $150.70 million, a PE ratio of -22.28 and a beta of 2.05. The business has a fifty day moving average price of $3.50 and a two-hundred day moving average price of $4.71. Lantronix has a 1-year low of $3.08 and a 1-year high of $6.95. The company has a current ratio of 2.25, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18.

Insider Transactions at Lantronix

In other news, Director Jason Cohenour purchased 21,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $3.63 per share, with a total value of $76,230.00. Following the purchase, the director now directly owns 33,909 shares of the company’s stock, valued at $123,089.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lantronix news, Director Jason Cohenour acquired 21,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $3.63 per share, for a total transaction of $76,230.00. Following the completion of the acquisition, the director now directly owns 33,909 shares of the company’s stock, valued at $123,089.67. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Saleel Awsare bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $3.66 per share, with a total value of $36,600.00. Following the completion of the purchase, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at approximately $109,800. The disclosure for this purchase can be found here. Insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Lantronix

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC purchased a new stake in Lantronix during the third quarter valued at about $176,000. Citigroup Inc. purchased a new position in Lantronix in the third quarter valued at approximately $35,000. Jump Financial LLC acquired a new position in Lantronix during the third quarter valued at approximately $66,000. Quadrature Capital Ltd purchased a new stake in Lantronix during the third quarter worth approximately $109,000. Finally, Algert Global LLC acquired a new stake in shares of Lantronix in the third quarter worth $50,000. 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.