Inotiv, Inc. (NASDAQ:NOTV) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its stake in Inotiv, Inc. (NASDAQ:NOTV - Free Report) by 553.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 287,899 shares of the company's stock after acquiring an additional 243,860 shares during the period. Millennium Management LLC owned approximately 1.11% of Inotiv worth $1,192,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Balyasny Asset Management L.P. lifted its position in Inotiv by 7,714.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,303,741 shares of the company's stock valued at $5,397,000 after buying an additional 1,287,058 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Inotiv during the fourth quarter valued at approximately $5,250,000. Marshall Wace LLP acquired a new position in Inotiv during the fourth quarter valued at approximately $737,000. Renaissance Technologies LLC lifted its position in Inotiv by 77.9% during the fourth quarter. Renaissance Technologies LLC now owns 304,254 shares of the company's stock valued at $1,260,000 after buying an additional 133,190 shares in the last quarter. Finally, Perkins Capital Management Inc. acquired a new position in Inotiv during the fourth quarter valued at approximately $497,000. 18.17% of the stock is owned by institutional investors and hedge funds.

Inotiv Trading Down 0.7%

NOTV stock traded down $0.02 during midday trading on Friday, reaching $2.69. 480,668 shares of the company's stock traded hands, compared to its average volume of 567,217. The company has a market capitalization of $92.41 million, a P/E ratio of -0.58 and a beta of 4.08. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.57 and a quick ratio of 1.28. Inotiv, Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $6.48. The business has a 50-day moving average price of $2.17 and a two-hundred day moving average price of $3.27.

Inotiv (NASDAQ:NOTV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.06. The firm had revenue of $124.32 million for the quarter, compared to analysts' expectations of $123.97 million. Inotiv had a negative net margin of 25.40% and a negative return on equity of 15.41%. Equities research analysts forecast that Inotiv, Inc. will post -0.79 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Lake Street Capital reduced their price target on shares of Inotiv from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Inotiv Profile

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.