Inotiv Inc [NASDAQ: NOTV] stock went on an upward path that rose over 2.72% on Thursday, amounting to a one-week price increase of more than 9.40%. The company report on February 7, 2024 at 4:05 PM that Inotiv Reports First Quarter Financial Results for Fiscal 2024 and Provides Business Update.
– First quarter fiscal 2024 revenue up 10.3% to $135.5 million.
– First quarter fiscal 2024 DSA revenue up 8.8% to $44.7 million and RMS revenue up 11.1% to $90.8 million.
Over the last 12 months, NOTV stock rose by 151.49%. The one-year Inotiv Inc stock forecast points to a potential upside of 29.42. The average equity rating for NOTV stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $282.14 million, with 25.78 million shares outstanding and 22.88 million shares in the current float. Compared to the average trading volume of 376.53K shares, NOTV stock reached a trading volume of 309450 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $15.50 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 1.00. 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.
Jefferies have made an estimate for Inotiv Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 09, 2024. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on July 20, 2023, representing the official price target for Inotiv Inc stock. Previously, the target price had yet another drop from $10 to $8, while Jefferies kept a Hold rating on NOTV stock. On January 11, 2023, analysts increased their price target for NOTV shares from 4 to 10.
The Average True Range (ATR) for Inotiv Inc is set at 0.88, with the Price to Sales ratio for NOTV stock in the period of the last 12 months amounting to 0.48. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 0.85. Price to Free Cash Flow for NOTV in the course of the last twelve months was 69.84 with Quick ratio for the last quarter at 1.15.
NOTV Stock Performance Analysis:
Inotiv Inc [NOTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.40. With this latest performance, NOTV shares gained by 66.77% in over the last four-week period, additionally plugging by 257.52% over the last 6 months – not to mention a rise of 151.49% 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 71.21, with the RSI for the last a single of trading hit 71.00, and the three-weeks RSI is set at 71.02 for Inotiv Inc [NOTV]. The present Moving Average for the last 50 days of trading for this stock 6.42, while it was recorded at 10.66 for the last single week of trading, and 4.39 for the last 200 days.
Insight into Inotiv Inc Fundamentals:
Inotiv Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.15 and a Current Ratio set at 1.74.
NOTV Stock EPS
With the latest financial reports released by the company, Inotiv Inc posted -0.39/share EPS, while the average EPS was predicted by analysts to be reported at -0.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOTV.
Inotiv Inc [NOTV] Institutonal Ownership Details
The top three institutional holders of NOTV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NOTV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NOTV stock with ownership which is approximately 5.8325%.
