Shares of Iteris Inc (NASDAQ:ITI) dropped 1.3% during mid-day trading on Monday . The company traded as low as $5.95 and last traded at $5.98. Approximately 221,141 shares changed hands during trading, a decline of 24% from the average daily volume of 292,633 shares. The stock had previously closed at $6.06.

ITI has been the topic of a number of analyst reports. Zacks Investment Research lowered Iteris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. B. Riley set a $9.00 target price on Iteris and gave the stock a “buy” rating in a research report on Thursday, January 11th. Northland Securities set a $9.00 target price on Iteris and gave the stock a “buy” rating in a research report on Monday, November 13th. Finally, JMP Securities initiated coverage on Iteris in a research report on Thursday, January 25th. They set an “outperform” rating and a $10.50 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Iteris presently has an average rating of “Buy” and a consensus price target of $8.75.

Iteris (NASDAQ:ITI) last announced its earnings results on Tuesday, November 7th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Iteris had a negative return on equity of 10.73% and a negative net margin of 6.18%. sell-side analysts forecast that Iteris Inc will post -0.11 EPS for the current fiscal year.

In related news, insider Thomas N. Blair sold 31,250 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $6.88, for a total value of $215,000.00. Following the completion of the sale, the insider now directly owns 12,500 shares of the company’s stock, valued at $86,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Todd Kreter sold 37,500 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $6.10, for a total value of $228,750.00. Following the completion of the sale, the insider now directly owns 40,803 shares of the company’s stock, valued at $248,898.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,891 shares of company stock valued at $1,191,273. 4.30% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in Iteris in the third quarter valued at about $116,000. SG Americas Securities LLC bought a new stake in Iteris in the third quarter valued at about $120,000. Wells Fargo & Company MN increased its holdings in Iteris by 1,730.8% in the third quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock valued at $122,000 after buying an additional 17,308 shares during the last quarter. Rhumbline Advisers bought a new stake in Iteris in the second quarter valued at about $136,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Iteris in the second quarter valued at about $137,000. 33.59% of the stock is owned by hedge funds and other institutional investors.

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About Iteris

Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.

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