Research snapshot · 6/29/26

ITRIItron Inc

Transformers and grid interconnect

Open ITRI in Robinhood ↗

HOLD

Conviction●●●●○4 of 5

Research target110Snapshot target

Thesis statusINTACTLast reviewed 6/29/26

Market cap3.72BSnapshot value

The thesis

AI compute growth → power demand → grid modernization → SMART GRID INTELLIGENCE → ITRI metering + distribution automation = nervous system of the modernizing grid

Catalysts

Utility smart grid replacement cycle (10+ year infra wave); AI data center load driving grid upgrade capex; BESS integration intelligence layer; potential FY26 revenue inflection from utility backlog

What breaks it

Utility capex cycles delayed materially; smart meter program cancellations; ITRI loses major utility RFP

Social sentiment

X: grid modernization theme widely discussed; Itron named in sustainability/smart utility contexts; not widely followed in AI-infra circles (under-radar)

Snapshot · 6/29/26

Smart money

🟢 Confirmed · ins-$1.4M · 13F 18+/7- · short↓0.31

Snapshot · 6/29/26