Inotiv (NASDAQ:NOTV) Stock Rating Reaffirmed by Lake Street Capital

Inotiv (NASDAQ:NOTV - Get Free Report)'s stock had its "hold" rating restated by research analysts at Lake Street Capital in a note issued to investors on Thursday, Benzinga reports. They currently have a $2.00 price target on the stock, down from their previous price target of $10.00. Lake Street Capital's target price indicates a potential downside of 6.54% from the company's previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of Inotiv from a "buy" rating to a "hold" rating and cut their price target for the stock from $11.50 to $3.75 in a report on Tuesday. Craig Hallum cut their target price on Inotiv from $25.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday.

Inotiv Stock Performance

NASDAQ:NOTV traded down $0.10 during midday trading on Thursday, reaching $2.14. The stock had a trading volume of 997,392 shares, compared to its average volume of 477,152. The company has a quick ratio of 1.28, a current ratio of 1.74 and a debt-to-equity ratio of 1.46. The stock has a market cap of $55.19 million, a P/E ratio of -1.65 and a beta of 3.37. The firm has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $4.76. Inotiv has a 12-month low of $1.61 and a 12-month high of $11.42.

Institutional Trading of Inotiv

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Inotiv by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,043,460 shares of the company's stock worth $11,415,000 after buying an additional 10,146 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Inotiv in the 3rd quarter valued at approximately $973,000. KPP Advisory Services LLC grew its holdings in Inotiv by 46.4% during the 4th quarter. KPP Advisory Services LLC now owns 166,076 shares of the company's stock valued at $609,000 after buying an additional 52,603 shares during the last quarter. King Luther Capital Management Corp increased its position in Inotiv by 100.0% during the 4th quarter. King Luther Capital Management Corp now owns 98,600 shares of the company's stock worth $362,000 after purchasing an additional 49,300 shares in the last quarter. Finally, Blue Edge Capital LLC acquired a new position in shares of Inotiv in the first quarter valued at approximately $459,000. Hedge funds and other institutional investors own 18.17% of the company's stock.

Inotiv Company 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.