Is this a good investment opportunity?

I’ve been watching Iteris (NASDAQ: ITI) for a while now. It seems like every week there is news about the company being awarded a new contract. There have been 2 or 3 announcements of new contracts just in the last week. I don’t recall seeing any negative news about the company. And yet the stock price has fallen almost 60% over the past year. The stock analyses that I can find seem to be like luke warm at best on the company. Could this be a good investment opportunity? What else should I be looking at with the stock?