Iteris (NASDAQ:ITI) Stock Price Up 5.5%

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Shares of Iteris Inc (NASDAQ:ITI) rose 5.5% during trading on Thursday . The company traded as high as $5.58 and last traded at $5.57, approximately 199,397 shares were traded during trading. An increase of 39% from the average daily volume of 143,520 shares. The stock had previously closed at $5.28.

ITI has been the topic of a number of analyst reports. ValuEngine downgraded shares of Whiting USA Trust II from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Dougherty & Co reaffirmed a “buy” rating on shares of Iteris in a research note on Tuesday, April 30th. Finally, Northland Securities set a $6.00 price target on shares of Lonestar Resources US and gave the company a “buy” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $7.08.

The company has a market cap of $170.95 million, a price-to-earnings ratio of -50.64 and a beta of 0.31. The company’s 50-day moving average price is $5.25.

Iteris (NASDAQ:ITI) last announced its quarterly earnings results on Monday, June 3rd. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Iteris had a negative net margin of 7.89% and a negative return on equity of 10.20%. The business had revenue of $26.09 million during the quarter, compared to analysts’ expectations of $23.95 million. As a group, research analysts expect that Iteris Inc will post -0.08 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in ITI. Private Management Group Inc. grew its position in Iteris by 106.3% in the first quarter. Private Management Group Inc. now owns 192,485 shares of the technology company’s stock valued at $803,000 after acquiring an additional 99,162 shares in the last quarter. B. Riley Financial Inc. grew its position in Iteris by 1,006.0% in the first quarter. B. Riley Financial Inc. now owns 1,004,034 shares of the technology company’s stock valued at $4,187,000 after acquiring an additional 913,250 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in Iteris in the first quarter valued at approximately $53,000. Cowen Prime Services LLC grew its position in Iteris by 20.2% in the first quarter. Cowen Prime Services LLC now owns 1,396,242 shares of the technology company’s stock valued at $5,822,000 after acquiring an additional 234,852 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Iteris in the first quarter valued at approximately $53,000. Institutional investors and hedge funds own 40.18% of the company’s stock.

About Iteris (NASDAQ:ITI)

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

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