Inotiv, Inc. (NASDAQ:NOTV) Short Interest Up 34.7% in February

Inotiv, Inc. (NASDAQ:NOTV) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 1,940,000 shares, an increase of 34.7% from the January 31st total of 1,440,000 shares. Based on an average daily trading volume, of 980,800 shares, the short-interest ratio is presently 2.0 days. Approximately 6.5% of the company’s shares are sold short.

Inotiv Trading Up 0.4 %

NOTV opened at $2.79 on Thursday. The firm has a market capitalization of $94.07 million, a P/E ratio of -0.61 and a beta of 3.77. The firm’s 50 day moving average is $4.13 and its 200-day moving average is $3.06. Inotiv has a 52-week low of $1.23 and a 52-week high of $11.42. The company has a quick ratio of 1.28, a current ratio of 1.57 and a debt-to-equity ratio of 2.31.

Inotiv (NASDAQ:NOTV) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.10). Inotiv had a negative net margin of 25.40% and a negative return on equity of 15.41%. Analysts expect that Inotiv will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling at Inotiv

In other news, Director Nigel Brown acquired 7,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were bought at an average price of $4.26 per share, for a total transaction of $31,950.00. Following the completion of the purchase, the director now directly owns 65,537 shares of the company’s stock, valued at approximately $279,187.62. This trade represents a 12.92 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Harrington acquired 10,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $3.98 per share, for a total transaction of $39,800.00. Following the purchase, the director now directly owns 37,500 shares of the company’s stock, valued at approximately $149,250. This trade represents a 36.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 71,029 shares of company stock valued at $314,248 and have sold 108,311 shares valued at $425,330. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Inotiv

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP increased its stake in shares of Inotiv by 31.6% in the fourth quarter. Two Sigma Advisers LP now owns 22,500 shares of the company’s stock worth $93,000 after buying an additional 5,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Inotiv by 24.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,626 shares of the company’s stock worth $131,000 after buying an additional 6,216 shares during the last quarter. Northern Trust Corp increased its stake in shares of Inotiv by 20.2% in the fourth quarter. Northern Trust Corp now owns 48,372 shares of the company’s stock worth $200,000 after buying an additional 8,134 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Inotiv in the fourth quarter worth $60,000. Finally, Geode Capital Management LLC increased its stake in shares of Inotiv by 7.7% in the third quarter. Geode Capital Management LLC now owns 250,895 shares of the company’s stock worth $427,000 after buying an additional 18,039 shares during the last quarter. Institutional investors own 18.17% of the company’s stock.

About Inotiv

Inotiv, Inc provides nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries. It operates through two segment: Discovery and Safety Assessment (DSA), and Research Models and Services (RMS). The DMS segment manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers, and medical research institutions under the Company's BASi product line.