Inotiv Inc. (NASDAQ: NOTV) stock fell -3.88% on Tuesday to $6.94 against a previous-day closing price of $7.22. With 0.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.4 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $7.65 whereas the lowest price it dropped to was $6.87. The 52-week range on NOTV shows that it touched its highest point at $27.22 and its lowest point at $3.64 during that stretch. It currently has a 1-year price target of $17.08. Beta for the stock currently stands at 2.48.
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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 up-trending over the past week, with a rise of 10.51%, but this was up by 27.11% over a month. Three-month performance dropped to -4.28% while six-month performance rose 20.70%. The stock lost -62.14% in the past year, while it has gained 40.49% so far this year. A look at the trailing 12-month EPS for NOTV yields -13.33 with Next year EPS estimates of -0.67. For the next quarter, that number is -0.10. This implies an EPS growth rate of 73.30% for this year and 82.10% for next year.
Float and Shares Shorts:
At present, 25.76 million NOTV shares are outstanding with a float of 11.19 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.51 million, which was 9.78% higher than short shares on Mar 30, 2023. 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 55.34% of NOTV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 24.08% of NOTV, in contrast to 22.09% held by mutual funds. Shares owned by individuals account for 15.03%. As the largest shareholder in NOTV with 5.87% of the stake, Wasatch Advisors, Inc. holds 1,503,093 shares worth 1,503,093. A second-largest stockholder of NOTV, BlackRock Fund Advisors, holds 1,106,387 shares, controlling over 4.32% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in NOTV, holding 966,309 shares or 3.77% stake. With a 2.82% stake in NOTV, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 720,906 shares are owned by the mutual fund manager. The Wasatch Micro Cap Fund, which owns about 1.87% of NOTV stock, is the second-largest Mutual Fund holder. It holds 478,068 shares valued at 2.65 million. iShares Russell 2000 ETF holds 1.76% of the stake in NOTV, owning 451,457 shares worth 2.5 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, NOTV reported revenue of $172.67M and operating income of $4.79M. The EBITDA in the recently reported quarter was $21.23M and diluted EPS was -$0.15.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NOTV since 0 analysts follow the stock currently. 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 $7.25, the average target price over the next 12 months is $17.08. Based on these targets, NOTV could surge 389.91% to reach the target high and rise by 4.47% to reach the target low. Reaching the average price target will result in a growth of 146.11% 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.
Summary of Insider Activity:
Insiders traded NOTV stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 134,210 shares were bought while 0 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 3,421,156 while 5,671,596 shares were sold.
