Inotiv (NASDAQ:NOTV) Sees Large Volume Increase

Inotiv, Inc. (NASDAQ:NOTV) saw an uptick in trading volume on Thursday . 8,766 shares traded hands during trading, a decline of 93% from the previous session’s volume of 120,831 shares.The stock last traded at $33.92 and had previously closed at $34.11.

A number of brokerages recently weighed in on NOTV. Colliers Securities reaffirmed a “buy” rating on shares of Inotiv in a research report on Wednesday. Craig Hallum began coverage on shares of Inotiv in a research report on Monday, September 20th. They set a “buy” rating and a $45.00 price target for the company.

The business has a 50-day simple moving average of $29.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.02 and a quick ratio of 1.00. The firm has a market capitalization of $546.20 million, a PE ratio of -85.80 and a beta of 2.09.

Inotiv (NASDAQ:NOTV) last issued its quarterly earnings data on Wednesday, August 11th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Inotiv had a negative return on equity of 14.51% and a negative net margin of 6.83%. The firm had revenue of $22.89 million during the quarter. Equities analysts expect that Inotiv, Inc. will post -0.37 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Next Century Growth Investors LLC lifted its holdings in Inotiv by 16.9% in the 2nd quarter. Next Century Growth Investors LLC now owns 730,507 shares of the company’s stock worth $19,489,000 after buying an additional 105,491 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Inotiv in the 1st quarter valued at about $13,623,000. BlackRock Inc. raised its stake in shares of Inotiv by 1,797.6% in the 2nd quarter. BlackRock Inc. now owns 635,747 shares of the company’s stock valued at $16,963,000 after purchasing an additional 602,245 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Inotiv by 46.0% in the 2nd quarter. Vanguard Group Inc. now owns 544,270 shares of the company’s stock valued at $14,521,000 after purchasing an additional 171,456 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd acquired a new stake in shares of Inotiv in the 2nd quarter valued at about $13,126,000. Hedge funds and other institutional investors own 43.02% of the company’s stock.

About Inotiv (NASDAQ:NOTV)

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: Contract Research Services and Research Products. The Contract Research Services segment provides screening and pharmacological testing, preclinical safety testing, formulation development, regulatory compliance, and quality control testing.

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