Breakout Coming? Lantronix Inc (NASDAQ:LTRX) In News

Lantronix Inc (NASDAQ:LTRX) stock is moving lower in the opening session after the earnings. The stock has jumped about 9% in the past month.

Major Trigger:

Lantronix Announces Expanded Relationship with Insight Enterprises, Now Offering Full Range of Products

Key Highlights:

  • announced an expanded relationship with Insight Enterprises (NASDAQ: NSIT), a Fortune 500-ranked provider of digital transformation solutions. Insight, the global integrator of Insight Intelligent Technology Solutions™ for organizations of all sizes, focuses on Digital Innovation, Cloud + Data Center Transformation and Connected Workforce solutions to help clients maximize the value of their technology.
  • Insight will extend the reach of Lantronix’s IoT and Remote Access technologies and services to a worldwide network of clients. Insight clients gain Lantronix’s holistic approach to connectivity, which integrates software, hardware, services and application development to empower the design, creation and delivery of innovative solutions.

Key Quote:

“Insight is an excellent partner for Lantronix,” said Roger Holliday, VP of Worldwide Sales at Lantronix. “With its strength and global reach, Insight will provide exceptional support to our growing customer base for Out-of-Band products and services in Remote Environment Management, delivering business continuity in remote and unmanned sites.”

Market Reactions  

As of 11:09, LTRX stock decreased by 0.45% at $5.54. Total volume so far stood at 33K shares, compared to its average volume of 159K shares.  The stock moved within a range of $5.50 – 5.62 after opening at $5.58.

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