In today’s recent session, 0.86 million shares of the Inotiv Inc (NASDAQ:NOTV) have been traded, and its beta is 3.46. Most recently the company’s share price was $3.42, and it changed around $0.63 or 22.76% from the last close, which brings the market valuation of the company to $89.06M. NOTV at last check was trading at a discount to its 52-week high of $11.42, offering almost -233.92% off that amount. The share price’s 52-week low was $1.23, which indicates that the recent value has risen by an impressive 64.04% since then. We note from Inotiv Inc’s average daily trading volume that its 10-day average is 0.56 million shares, with the 3-month average coming to 210.89K.
Inotiv Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended NOTV as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Inotiv Inc is expected to report earnings per share of -0.98 for the current quarter.
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Inotiv Inc (NASDAQ:NOTV) trade information
Instantly NOTV has been showing a green trend so far today with a performance of 22.76% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 3.52 on recent trading dayincreased the stock’s daily price by 2.84%. The company’s shares are currently down -6.68% year-to-date, but still up 19.76% over the last five days. On the other hand, Inotiv Inc (NASDAQ:NOTV) is 94.60% up in the 30-day period. We can see from the shorts that 1.29 million shares have been sold at a short interest cover period of 12.24 day(s).
The consensus price target as assigned by Wall Street analysts is $8, which translates to bulls needing to increase their stock price by 57.25% from its current value. Analyst projections state that NOTV is forecast to be at a low of $4 and a high of $10.
Inotiv Inc (NOTV) estimates and forecasts
Inotiv Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 67.89 percent over the past six months and at a 79.67% annual growth rate that is well above the industry average of 16.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -156.58% in revenue this quarter, and will report a decrease of -11.67% in the next quarter. The year-over-year growth rate is expected to be -16.63%, down from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of 116.94M in revenue for the current quarter. 1 analysts expect Inotiv Inc to make 127.43M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 140.74M and 135.5M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -16.91%. Forecasts for the next quarter put sales growth at -5.96%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -184.24%.
NOTV Dividends
Inotiv Inc’s next quarterly earnings report is expected to be released in December.
Inotiv Inc (NASDAQ:NOTV)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 13.48% of Inotiv Inc shares, and 13.93% of them are in the hands of institutional investors. The stock currently has a share float of 16.09%. Inotiv Inc stock is held by 64.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 4.075% of the shares, which is about 1.05 million shares worth $1.75 million.
AMERICAN CENTURY COMPANIES INC, with 1.1443% or 0.3 million shares worth $0.49 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 30, 2024. The former held 721.97 shares worth $2.54 million, making up 2.78% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 297.32 shares worth around $1.05 million, which represents about 1.14% of the total shares outstanding.
