Short Interest in Inotiv, Inc. (NASDAQ:NOTV) Grows By 34.7%

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

Inotiv Stock Down 12.3 %

Shares of NASDAQ:NOTV opened at $2.70 on Tuesday. The firm has a fifty day moving average price of $4.20 and a two-hundred day moving average price of $3.05. 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 has a one year low of $1.23 and a one year high of $11.42. The company has a market cap of $91.04 million, a price-to-earnings ratio of -0.59 and a beta of 3.58.

Inotiv (NASDAQ:NOTV) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 anticipate that Inotiv will post -0.79 EPS for the current fiscal year.

Insider Activity

In related news, COO John Gregory Beattie bought 30,000 shares of Inotiv stock in a transaction dated Tuesday, December 10th. The stock was purchased at an average cost of $4.75 per share, with a total value of $142,500.00. Following the transaction, the chief operating officer now directly owns 161,761 shares of the company’s stock, valued at approximately $768,364.75. The trade was a 22.77 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Jr. Leasure sold 73,617 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $3.82, for a total transaction of $281,216.94. Following the completion of the transaction, the chief executive officer now directly owns 956,592 shares of the company’s stock, valued at approximately $3,654,181.44. This trade represents a 7.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 71,029 shares of company stock valued at $314,248 and sold 108,311 shares valued at $425,330. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Inotiv during the 4th quarter valued at $60,000. Virtu Financial LLC purchased a new stake in shares of Inotiv during the 4th quarter valued at $76,000. Two Sigma Advisers LP raised its position in shares of Inotiv by 31.6% during the 4th quarter. Two Sigma Advisers LP now owns 22,500 shares of the company’s stock valued at $93,000 after buying an additional 5,400 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Inotiv by 24.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,626 shares of the company’s stock valued at $131,000 after buying an additional 6,216 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Inotiv during the 4th quarter valued at $136,000. 18.17% of the stock is owned by institutional investors.

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.