Inotiv Inc (NASDAQ:NOTV) shares, rose in value, with the stock price down by -24.00% to the previous day’s close as strong demand from buyers drove the stock to $7.19.
Actively observing the price movement in the last trading, the stock closed the session at $9.46. The value of beta (5-year monthly) was 3.14. Referring to stock’s 52-week performance, its high was $11.42, and the low was $1.61. On the whole, NOTV has fluctuated by -10.01% over the past month.
With the market capitalization of Inotiv Inc currently standing at about $185.43 million, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.54, which is expected to increase to -$0.01 for fiscal year -$1.15 and then to about -$1.06 by fiscal year 2025. Data indicates that the EPS growth is expected to be 72.00% in 2025, while the next year’s EPS growth is forecast to be 7.80%.
Analysts have estimated the company’s revenue for the quarter at $135.68 million, with a low estimate of $130 million and a high estimate of $140.3 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $580.91 million, representing an increase of 1.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NOTV’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NOTV currently trading nearly -22.75% and 5.93% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.38, while the 7-day volatility ratio is showing 14.81% which for the 30-day chart, stands at 12.07%. Furthermore, Inotiv Inc (NOTV)’s beta value is 3.22, and its average true range (ATR) is 1.01.
A comparison of Inotiv Inc (NOTV) with its peers suggests the former has fared considerably weaker in the market. NOTV showed an intraday change of -24.00% in last session, and over the past year, it grew by 62.30%%.
Data on historical trading for Inotiv Inc (NASDAQ:NOTV) indicates that the trading volumes over the past 10 days have averaged 0.43 million and over the past 3 months, they’ve averaged 390.12K. According to company’s latest data on outstanding shares, there are 25.78 million shares outstanding.
Nearly 11.29% of Inotiv Inc’s shares belong to company insiders and institutional investors own 18.37% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.07 million shares as on Mar 15, 2024, resulting in a short ratio of 2.21. According to the data, the short interest in Inotiv Inc (NOTV) stood at 4.14% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 1.14 million. The stock has risen by 95.91% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NOTV stock heading into the next quarter.
