Inotiv (NASDAQ:NOTV) Stock Price Down 0.7%

Inotiv, Inc. (NASDAQ:NOTV) traded down 0.7% on Friday . The company traded as low as $7.00 and last traded at $7.14. 664,817 shares changed hands during mid-day trading, an increase of 65% from the average session volume of 402,458 shares. The stock had previously closed at $7.19.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group upgraded Inotiv from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.00 to $11.50 in a report on Friday, February 9th. Craig Hallum cut their price target on shares of Inotiv from $34.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, December 12th.

Inotiv Stock Down 0.7 %

The firm has a market cap of $184.14 million, a P/E ratio of -5.49 and a beta of 3.16. The stock’s 50-day simple moving average is $7.14 and its 200 day simple moving average is $4.34. The company has a quick ratio of 1.28, a current ratio of 1.74 and a debt-to-equity ratio of 1.46.

Inotiv (NASDAQ:NOTV) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.67). The company had revenue of $135.50 million for the quarter, compared to the consensus estimate of $136.26 million. Inotiv had a negative return on equity of 10.99% and a negative net margin of 5.67%. As a group, research analysts forecast that Inotiv, Inc. will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Inotiv

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of Inotiv by 6.8% in the 1st quarter. Bank of New York Mellon Corp now owns 69,404 shares of the company’s stock worth $1,816,000 after acquiring an additional 4,413 shares during the last quarter. MetLife Investment Management LLC increased its stake in Inotiv by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 8,408 shares of the company’s stock valued at $220,000 after buying an additional 3,103 shares during the last quarter. Rhumbline Advisers increased its stake in Inotiv by 34.6% in the 1st quarter. Rhumbline Advisers now owns 16,407 shares of the company’s stock valued at $430,000 after buying an additional 4,216 shares during the last quarter. BlackRock Inc. increased its stake in Inotiv by 6.2% in the 1st quarter. BlackRock Inc. now owns 983,801 shares of the company’s stock valued at $25,756,000 after buying an additional 57,382 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Inotiv by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 862,550 shares of the company’s stock valued at $22,582,000 after buying an additional 13,482 shares during the last quarter. Institutional investors own 18.17% of the company’s stock.

Inotiv Company Profile

Inotiv, Inc provides nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries. It operates through two segment: Discovery and Safety Assessment (DSA), and Research Models and Services (RMS). The DMS segment manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers, and medical research institutions under the Company's BASi product line.