Iteris, Inc. (NASDAQ:ITI) Sees Significant Decline in Short Interest

Iteris, Inc. (NASDAQ:ITI) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 157,400 shares, a drop of 7.8% from the May 31st total of 170,800 shares. Based on an average trading volume of 92,700 shares, the short-interest ratio is currently 1.7 days.

Analyst Ratings Changes

Several brokerages have recently commented on ITI. Maxim Group began coverage on shares of Iteris in a research report on Tuesday, April 30th. They set a “buy” rating and a $11.00 price objective on the stock. StockNews.com downgraded shares of Iteris from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th.

Hedge Funds Weigh In On Iteris

Several institutional investors have recently bought and sold shares of ITI. Public Employees Retirement System of Ohio purchased a new position in shares of Iteris in the 1st quarter worth $43,000. Bfsg LLC purchased a new position in shares of Iteris in the 4th quarter worth $50,000. EntryPoint Capital LLC purchased a new position in shares of Iteris in the 1st quarter worth $66,000. SG Americas Securities LLC grew its stake in shares of Iteris by 47.0% in the 4th quarter. SG Americas Securities LLC now owns 18,439 shares of the technology company’s stock worth $96,000 after buying an additional 5,897 shares in the last quarter. Finally, Perritt Capital Management Inc. grew its stake in shares of Iteris by 150.0% in the 1st quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock worth $124,000 after buying an additional 15,000 shares in the last quarter. 51.16% of the stock is owned by hedge funds and other institutional investors.

Iteris Trading Up 3.4 %

ITI traded up $0.15 during trading on Wednesday, hitting $4.51. 121,299 shares of the company traded hands, compared to its average volume of 116,195. The company has a market cap of $193.79 million, a PE ratio of 62.29 and a beta of 0.83. The stock’s 50-day simple moving average is $4.45 and its two-hundred day simple moving average is $4.75. Iteris has a 1 year low of $3.72 and a 1 year high of $5.49.

About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.