Inotiv (NASDAQ:NOTV) Trading Up 2.7%

Inotiv, Inc. (NASDAQ:NOTV) shares were up 2.7% on Tuesday . The stock traded as high as $3.99 and last traded at $3.84. Approximately 681,183 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 425,488 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of Inotiv from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.00 to $11.50 in a research report on Friday, February 9th.

Inotiv Price Performance

The stock’s 50-day moving average is $7.44 and its 200 day moving average is $4.65. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.74 and a quick ratio of 1.28. The company has a market cap of $99.03 million, a PE ratio of -2.95 and a beta of 3.16.

Inotiv (NASDAQ:NOTV) last posted its earnings results on Wednesday, February 7th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.67). Inotiv had a negative net margin of 5.67% and a negative return on equity of 10.99%. The firm had revenue of $135.50 million for the quarter, compared to analysts’ expectations of $136.26 million. On average, equities analysts anticipate that Inotiv, Inc. will post 1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. acquired a new position in Inotiv during the 3rd quarter valued at approximately $973,000. Corton Capital Inc. acquired a new position in Inotiv during the 3rd quarter valued at approximately $58,000. KPP Advisory Services LLC acquired a new position in Inotiv during the 3rd quarter valued at approximately $349,000. Algert Global LLC acquired a new position in Inotiv during the 3rd quarter valued at approximately $46,000. Finally, Denali Advisors LLC acquired a new position in Inotiv during the 1st quarter valued at approximately $277,000. Institutional investors and hedge funds 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.