Iteris (NASDAQ:ITI) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of Iteris (NASDAQ:ITIFree Report) from a buy rating to a strong-buy rating in a report released on Friday.

Separately, B. Riley increased their price objective on shares of Iteris from $6.00 to $8.50 and gave the company a buy rating in a report on Friday.

Read Our Latest Research Report on ITI

Iteris Stock Performance

ITI stock opened at $5.32 on Friday. The company has a market cap of $227.80 million, a price-to-earnings ratio of 88.67 and a beta of 0.68. Iteris has a 12 month low of $3.72 and a 12 month high of $5.49. The firm has a 50-day moving average of $4.86 and a two-hundred day moving average of $4.52.

Insider Transactions at Iteris

In other news, major shareholder Samjo Management, Llc sold 72,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $5.36, for a total transaction of $385,920.00. Following the completion of the sale, the insider now owns 6,320,800 shares in the company, valued at approximately $33,879,488. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

A number of hedge funds have recently made changes to their positions in ITI. Barclays PLC purchased a new position in shares of Iteris during the 2nd quarter worth approximately $34,000. Cubist Systematic Strategies LLC purchased a new position in shares of Iteris during the 1st quarter worth approximately $34,000. Walleye Capital LLC purchased a new position in shares of Iteris during the 1st quarter worth approximately $39,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Iteris during the 3rd quarter worth approximately $46,000. Finally, Bank of Montreal Can purchased a new position in shares of Iteris during the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 64.84% of the company’s stock.

Iteris Company Profile

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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.

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