inTEST (NYSE:INTT) Shares Down 7% – Here’s What Happened

inTEST Co. (NYSE:INTT)’s stock price dropped 7% during trading on Friday . The stock traded as low as $16.22 and last traded at $16.62. Approximately 1,783,577 shares changed hands during trading, an increase of 672% from the average daily volume of 230,892 shares. The stock had previously closed at $17.88.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research cut inTEST from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Lake Street Capital raised their price target on inTEST from $10.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

inTEST Stock Down 7.0%

The company has a market cap of $208.83 million, a PE ratio of 72.26 and a beta of 1.50. The company’s 50 day moving average is $17.32 and its 200 day moving average is $13.00. The company has a current ratio of 2.26, a quick ratio of 1.38 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On inTEST

A number of institutional investors have recently modified their holdings of the stock. Royce & Associates LP raised its position in inTEST by 7.3% during the 4th quarter. Royce & Associates LP now owns 1,555,020 shares of the company’s stock valued at $11,616,000 after purchasing an additional 106,222 shares in the last quarter. Globeflex Capital L P lifted its holdings in shares of inTEST by 632.6% in the 1st quarter. Globeflex Capital L P now owns 118,572 shares of the company’s stock worth $1,619,000 after buying an additional 102,387 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of inTEST during the 1st quarter worth $1,275,000. Sei Investments Co. bought a new position in shares of inTEST during the 1st quarter worth $1,185,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in shares of inTEST during the fourth quarter valued at $598,000. 63.18% of the stock is owned by hedge funds and other institutional investors.

inTEST Company Profile

inTEST Corporation (NYSE: INTT) is a developer and manufacturer of precision instrumentation and test solutions designed for the semiconductor, microelectronics and related manufacturing industries. The company’s offerings focus on thermal management and instrument interface technologies that support the environmental conditioning and electrical performance evaluation of devices under test. These solutions include temperature controllers and cyclers, thermal subsystems, load boards, connectors and custom test interfaces engineered to accelerate reliability testing, product qualification and high-volume production measurement.

Serving customers across North America, Europe and Asia, inTEST supports semiconductor fabs, assembly and packaging facilities, research laboratories and OEM equipment builders.