Inotiv Inc. [NASDAQ: NOTV] surged by $1.75 during the normal trading session on Wednesday and reaching a high of $7.72 during the day while it closed the day at $7.34. The company report on January 10, 2023 that Inotiv, Inc. Announces Fourth Quarter and Full Year Fiscal 2022 Financial Results.
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Provides Select First Quarter and Full Year Fiscal 2023 Financial Guidance.
Inotiv Inc. stock has also gained 42.52% of its value over the past 7 days. However, NOTV stock has declined by -62.05% in the 3 months of the year. Over the past six months meanwhile, it has lost -29.83% and gained 48.58% year-on date.
The market cap for NOTV stock reached $191.50 million, with 25.51 million shares outstanding and 19.14 million shares in the current float. Compared to the average trading volume of 849.13K shares, NOTV reached a trading volume of 7182897 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Inotiv Inc. [NOTV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOTV shares is $26.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOTV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Lake Street have made an estimate for Inotiv Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 11, 2023. While these analysts kept the previous recommendation, Lake Street raised their target price from $60 to $7. The new note on the price target was released on November 18, 2022, representing the official price target for Inotiv Inc. stock. Previously, the target price had yet another raise to $27, while Jefferies analysts kept a Buy rating on NOTV stock.
The Average True Range (ATR) for Inotiv Inc. is set at 0.80, with the Price to Sales ratio for NOTV stock in the period of the last 12 months amounting to 0.45. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 0.81.
NOTV stock trade performance evaluation
Inotiv Inc. [NOTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.52. With this latest performance, NOTV shares gained by 29.23% in over the last four-week period, additionally sinking by -29.83% over the last 6 months – not to mention a drop of -78.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOTV stock in for the last two-week period is set at 60.65, with the RSI for the last a single of trading hit 75.85, and the three-weeks RSI is set at 50.73 for Inotiv Inc. [NOTV]. The present Moving Average for the last 50 days of trading for this stock 8.51, while it was recorded at 5.62 for the last single week of trading, and 15.68 for the last 200 days.
Inotiv Inc. [NOTV]: An insightful look at the core fundamentals
Inotiv Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.60.
Inotiv Inc. [NOTV]: Insider Ownership positions
There are presently around $88 million, or 48.00% of NOTV stock, in the hands of institutional investors. The top three institutional holders of NOTV stocks are: WASATCH ADVISORS INC with ownership of 1,399,365, which is approximately 308.551% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 1,033,666 shares of the stock with an approximate value of $7.59 million in NOTV stocks shares; and VANGUARD GROUP INC, currently with $6.66 million in NOTV stock with ownership of nearly 8.146% of the company’s market capitalization.
Positions in Inotiv Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 49 institutional holders increased their position in Inotiv Inc. [NASDAQ:NOTV] by around 2,999,982 shares. Additionally, 46 investors decreased positions by around 4,444,818 shares, while 12 investors held positions by with 4,521,119 shares. The mentioned changes placed institutional holdings at 11,965,919 shares, according to the latest SEC report filing. NOTV stock had 17 new institutional investments in for a total of 922,982 shares, while 14 institutional investors sold positions of 893,908 shares during the same period.