Iteris (ITI) Sees Unusually-High Trading Volume

Shares of Iteris Inc (NASDAQ:ITI) saw unusually-strong trading volume on Friday . Approximately 872,405 shares changed hands during trading, an increase of 478% from the previous session’s volume of 150,903 shares.The stock last traded at $6.95 and had previously closed at $6.09.

A number of analysts have commented on ITI shares. Zacks Investment Research raised Iteris from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a report on Tuesday, August 29th. B. Riley reissued a “buy” rating and set a $9.00 price objective on shares of Iteris in a report on Wednesday, November 8th. Finally, Northland Securities set a $9.00 price objective on Iteris and gave the stock a “buy” rating in a report on Monday, November 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $8.31.

In other news, Director Global Investors Fundamental sold 269,293 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $6.31, for a total value of $1,699,238.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Todd Kreter sold 37,500 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 ninety days, insiders sold 457,705 shares of company stock valued at $2,854,370. 4.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Iteris in the third quarter valued at approximately $116,000. SG Americas Securities LLC purchased a new position in Iteris in the third quarter valued at approximately $120,000. Wells Fargo & Company MN lifted its stake 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 purchasing an additional 17,308 shares during the last quarter. Rhumbline Advisers purchased a new position in Iteris in the second quarter valued at approximately $136,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Iteris in the second quarter valued at approximately $137,000. 33.35% of the stock is owned by 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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