Views of Wall Street’s Leading Experts on Inotiv Inc.

Inotiv Inc. (NASDAQ: NOTV) stock jumped 7.27% on Monday to $7.08 against a previous-day closing price of $6.60. With 0.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.09 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $7.26 whereas the lowest price it dropped to was $6.51. The 52-week range on NOTV shows that it touched its highest point at $42.63 and its lowest point at $3.64 during that stretch. It currently has a 1-year price target of $17.33. Beta for the stock currently stands at 2.55.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NOTV was down-trending over the past week, with a drop of -12.81%, but this was up by 87.80% over a month. Three-month performance dropped to -62.78% while six-month performance fell -57.14%. The stock lost -75.90% in the past year, while it has gained 43.32% so far this year.

Float and Shares Shorts:

At present, 25.60 million NOTV shares are outstanding with a float of 19.14 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.43 million, which was 9.51% higher than short shares on Sep 14, 2022. In addition to Mr. Robert W. Leasure Jr. as the firm’s Pres, CEO & Director, Ms. Beth A. Taylor CPA serves as its Sr. VP of Fin. & CFO.


Institutional Ownership:

Through their ownership of 44.27% of NOTV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 27.97% of NOTV, in contrast to 20.39% held by mutual funds. Shares owned by individuals account for 18.89%. As the largest shareholder in NOTV with 5.47% of the stake, Wasatch Advisors, Inc. holds 1,399,365 shares worth 1,399,365. A second-largest stockholder of NOTV, BlackRock Fund Advisors, holds 933,277 shares, controlling over 3.65% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NOTV, holding 893,466 shares or 3.49% stake. With a 2.53% stake in NOTV, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 647,206 shares are owned by the mutual fund manager. The Janus Henderson Venture Fund, which owns about 2.03% of NOTV stock, is the second-largest Mutual Fund holder. It holds 519,798 shares valued at 2.57 million. iShares Russell 2000 ETF holds 1.50% of the stake in NOTV, owning 382,602 shares worth 1.89 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NOTV since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NOTV analysts setting a high price target of $34.00 and a low target of $8.00, the average target price over the next 12 months is $17.33. Based on these targets, NOTV could surge 380.23% to reach the target high and rise by 12.99% to reach the target low. Reaching the average price target will result in a growth of 144.77% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NOTV will report FY 2023 earnings on 12/18/2023. Analysts have provided yearly estimates in a range of $0.35 being high and -$2.22 being low. For NOTV, this leads to a yearly average estimate of -$1.16. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Inotiv Inc. surprised analysts by -$9.46 when it reported -$9.54 EPS against a consensus estimate of -$0.08. The surprise factor in the prior quarter was -$0.13. Based on analyst estimates, the high estimate for the next quarter is -$0.44 and the low estimate is -$1.54. The average estimate for the next quarter is thus -$1.01.

Summary of Insider Activity:

Insiders traded NOTV stock several times over the past three months with 0 Buys and 5 Sells. In these transactions, 0 shares were bought while 492,379 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 3,610,612 while 5,671,596 shares were sold.

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