Iteris (NASDAQ:ITI) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Iteris (NASDAQ:ITI) in a research note released on Saturday. The firm issued a buy rating on the technology company’s stock.

A number of other analysts also recently commented on the stock. Maxim Group reiterated a hold rating on shares of Iteris in a report on Monday, August 12th. B. Riley reaffirmed a neutral rating and issued a $7.20 price target (down previously from $8.00) on shares of Iteris in a report on Wednesday, August 21st. Finally, Northland Capmk lowered Iteris from a strong-buy rating to a hold rating in a research note on Friday, August 9th.

Iteris Stock Performance

Shares of ITI opened at $7.15 on Friday. The firm has a market cap of $307.27 million, a P/E ratio of 102.14 and a beta of 0.86. Iteris has a 12 month low of $3.97 and a 12 month high of $7.15. The stock’s 50 day moving average is $6.24 and its two-hundred day moving average is $5.15.

Iteris (NASDAQ:ITI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The company had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. Equities research analysts forecast that Iteris will post 0.18 EPS for the current year.

Insider Buying and Selling at Iteris

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $6.99, for a total value of $5,929,617.00. Following the sale, the insider now owns 4,165,000 shares in the company, valued at approximately $29,113,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in Iteris in the 1st quarter valued at about $43,000. Bfsg LLC lifted its stake in Iteris by 31.4% in the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock worth $55,000 after acquiring an additional 3,038 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Iteris in the first quarter worth approximately $66,000. Cubist Systematic Strategies LLC acquired a new position in Iteris during the 2nd quarter worth approximately $91,000. Finally, Perritt Capital Management Inc. increased its position 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 valued at $124,000 after purchasing an additional 15,000 shares during the last quarter. 51.16% of the stock is currently owned by institutional investors and hedge funds.

Iteris Company Profile

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.