NEW YORK (TheStreet) -- Shares of Iteris (ITI) are higher by 4.32% to $1.69 trading on extremely high trading volume as the traffic intelligence company rose in sympathy with the boost of Mobileye (MBLY) stock.
Analysts at several research firms initiated coverage on Mobileye this morning and touted its collision avoidance technology.
Iteris develops vehicle detection systems and transportation management systems, both of which are major components of cars that drive themselves.
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More than 610,000 shares had changed hands as of 11:25 a.m., compared to the average volume of 69,602.
Separately, TheStreet Ratings team rates ITERIS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ITERIS INC (ITI) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and weak operating cash flow."