Balyasny Asset Management L.P. Takes $79,000 Position in Lantronix, Inc. (NASDAQ:LTRX)

Balyasny Asset Management L.P. purchased a new position in Lantronix, Inc. (NASDAQ:LTRX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,163 shares of the technology company’s stock, valued at approximately $79,000.

Several other hedge funds have also recently made changes to their positions in the stock. Barclays PLC grew its position in Lantronix by 235.9% in the 3rd quarter. Barclays PLC now owns 62,321 shares of the technology company’s stock worth $257,000 after purchasing an additional 43,770 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Lantronix by 84.4% in the 4th quarter. Bank of New York Mellon Corp now owns 41,502 shares of the technology company’s stock worth $171,000 after buying an additional 18,996 shares during the last quarter. Amundi bought a new stake in shares of Lantronix in the fourth quarter worth $42,000. Truffle Hound Capital LLC purchased a new stake in Lantronix during the fourth quarter valued at $4,120,000. Finally, American Century Companies Inc. lifted its holdings in Lantronix by 43.9% in the fourth quarter. American Century Companies Inc. now owns 43,937 shares of the technology company’s stock valued at $181,000 after acquiring an additional 13,402 shares during the period. 39.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LTRX shares. Canaccord Genuity Group reduced their price target on shares of Lantronix from $4.50 to $3.00 and set a “buy” rating for the company in a research report on Monday, May 12th. StockNews.com lowered shares of Lantronix from a “buy” rating to a “hold” rating in a research report on Monday, May 12th. Needham & Company LLC decreased their price target on shares of Lantronix from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Monday, May 12th. Finally, Lake Street Capital dropped their price target on shares of Lantronix from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lantronix has an average rating of “Moderate Buy” and a consensus price target of $5.13.

Insider Activity at Lantronix

In related news, Director Kevin S. Palatnik bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $2.54 per share, for a total transaction of $50,800.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $50,800. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Saleel Awsare bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $2.53 per share, with a total value of $37,950.00. Following the completion of the purchase, the chief executive officer now directly owns 253,380 shares of the company’s stock, valued at $641,051.40. This represents a 6.29% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 80,011 shares of company stock valued at $195,373. 1.60% of the stock is owned by company insiders.

Lantronix Stock Performance

Shares of NASDAQ LTRX opened at $2.31 on Tuesday. The stock has a market cap of $89.84 million, a PE ratio of -17.77 and a beta of 1.49. Lantronix, Inc. has a 1 year low of $1.91 and a 1 year high of $4.55. The firm has a fifty day moving average price of $2.28 and a 200-day moving average price of $2.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.56 and a quick ratio of 1.69.

Lantronix Company Profile

Lantronix, Inc provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT System Solutions, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; Embedded IoT Modules, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and Software and Engineering Services offers SaaS platform that enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login.