Iteris Inc. (NASDAQ:ITI) shares have reached a new 52-week high, touching $7.19 amidst a period of robust growth. The company, known for its intelligent transportation systems and services, has seen its stock soar, reflecting a significant 1-year change with an impressive 74.09% increase. This milestone underscores investor confidence and marks a period of strong performance for Iteris, as the company continues to expand its reach and capitalize on the growing demand for smart transportation solutions. The 52-week high represents a notable peak in the company's stock value over the past year, setting a new benchmark for its financial trajectory. In other recent news, Iteris has cleared a significant regulatory hurdle in its merger with Almaviva S.p.A., satisfying a condition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The merger is expected to be finalized in the fourth quarter of 2024. Following the merger announcement, B.Riley downgraded Iteris stock to a Neutral rating, aligning with the acquisition agreement offering $7.20 per share to Iteris stockholders. Iteris also reported a 5% year-over-year increase in total revenue for the fiscal first quarter of 2025, reaching $45.8 million. The company attributes this growth to strategic partnerships and advancements in AI technology. Iteris forecasts full-year fiscal 2025 revenue to range from $188 million to $194 million. Despite potential project delays due to issues with third-party products and ongoing litigation with Wavetronix, the company cites no supply chain disruptions affecting product manufacturing and a progressing $10 million contract with Orange County Transportation. These developments reflect the dynamic environment in which Iteris operates.

Iteris stock soars to 52-week high, hits $7.19

Iteris Inc. shares have reached a new 52-week high, touching $7.19, reflecting a significant 74.09% increase over the past year. This milestone underscores investor confidence and marks strong performance for the company, known for its intelligent transportation systems and services. Iteris has cleared a significant regulatory hurdle in its merger with Almaviva S.p.A., expected to be finalized in Q4 2024. Recent financial highlights include a 5% year-over-year increase in total revenue for the fiscal first quarter of 2025, reaching $45.8 million, and full-year fiscal 2025 revenue forecasted to range from $188 million to $194 million.