Thurston Springer Miller Herd & Titak Inc. Decreases Position in Inotiv, Inc. (NASDAQ:NOTV)

Thurston Springer Miller Herd & Titak Inc. decreased its position in shares of Inotiv, Inc. (NASDAQ:NOTV) by 25.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,860 shares of the company’s stock after selling 6,104 shares during the quarter. Thurston Springer Miller Herd & Titak Inc. owned 0.07% of Inotiv worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NOTV. Lazard Asset Management LLC bought a new stake in Inotiv in the 1st quarter worth about $266,000. Renaissance Technologies LLC raised its holdings in shares of Inotiv by 29.9% during the second quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock valued at $273,000 after purchasing an additional 37,800 shares during the last quarter. Denali Advisors LLC bought a new position in Inotiv during the first quarter valued at approximately $277,000. Virtu Financial LLC purchased a new stake in Inotiv in the first quarter worth approximately $300,000. Finally, King Luther Capital Management Corp grew its position in Inotiv by 101.4% in the 2nd quarter. King Luther Capital Management Corp now owns 198,600 shares of the company’s stock worth $330,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 18.17% of the company’s stock.

Analyst Ratings Changes

Separately, Lake Street Capital raised Inotiv from a “hold” rating to a “buy” rating and increased their price target for the company from $2.00 to $4.00 in a report on Monday, September 30th.

Inotiv Price Performance

NASDAQ NOTV opened at $1.72 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.31 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $44.54 million, a P/E ratio of -0.62 and a beta of 3.38. The company has a 50-day moving average price of $1.61 and a 200-day moving average price of $2.58. Inotiv, Inc. has a 52 week low of $1.23 and a 52 week high of $11.42.

Inotiv (NASDAQ:NOTV) last announced its earnings results on Thursday, August 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.11). The business had revenue of $105.79 million for the quarter, compared to analysts’ expectations of $123.74 million. Inotiv had a negative net margin of 19.80% and a negative return on equity of 15.55%. Equities research analysts anticipate that Inotiv, Inc. will post -0.37 earnings per share for the current year.

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.