Allspring Global Investments Holdings LLC Lowers Holdings in Inotiv, Inc. (NASDAQ:NOTV)

Allspring Global Investments Holdings LLC cut its position in Inotiv, Inc. (NASDAQ:NOTV – Get Rating) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 130,525 shares of the company’s stock after selling 5,220 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Inotiv were worth $2,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NOTV. Quantbot Technologies LP lifted its stake in Inotiv by 30.8% in the 2nd quarter. Quantbot Technologies LP now owns 7,120 shares of the company’s stock worth $68,000 after purchasing an additional 1,678 shares in the last quarter. Amalgamated Bank purchased a new stake in Inotiv in the 1st quarter worth approximately $78,000. JPMorgan Chase & Co. lifted its stake in Inotiv by 13.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,420 shares of the company’s stock worth $90,000 after purchasing an additional 1,136 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Inotiv in the 2nd quarter worth approximately $112,000. Finally, Capital Impact Advisors LLC purchased a new stake in Inotiv in the 2nd quarter worth approximately $150,000. 52.04% of the stock is currently owned by hedge funds and other institutional investors.

Inotiv Price Performance

NOTV stock opened at $6.26 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.15 and a current ratio of 1.60. Inotiv, Inc. has a 52 week low of $3.64 and a 52 week high of $42.63. The firm’s fifty day moving average is $6.53 and its 200 day moving average is $14.45. The firm has a market cap of $160.30 million, a P/E ratio of -0.45 and a beta of 2.43.

Wall Street Analyst Weigh In

Several research firms have issued reports on NOTV. Lake Street Capital upgraded shares of Inotiv from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, January 11th. Craig Hallum lowered their price objective on shares of Inotiv from $64.00 to $34.00 in a research report on Wednesday, January 11th. Jefferies Financial Group cut shares of Inotiv from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research report on Thursday. Finally, TheStreet cut shares of Inotiv from a “c-” rating to a “d+” rating in a research report on Wednesday, November 9th.

Inotiv Company Profile

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Inotiv, Inc operates as a pharmaceutical development company, which engages in the provision of drug discovery, development services, and analytical instruments. The firm operates through the following business segments: Research Services and Research Products. The Research Services segment provides screening and pharmacological testing, preclinical safety testing, formulation development, regulatory compliance, and quality control testing.