Inotiv Sees Unusually Large Options Volume (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTV) saw some unusual options trading activity on Tuesday. Stock traders acquired 5,192 call options on the stock. This represents an increase of approximately 2,063% compared to the typical volume of 240 call options.

Inotiv Stock Performance

Shares of NASDAQ:NOTV traded up $0.36 during midday trading on Tuesday, reaching $4.30. The company had a trading volume of 451,267 shares, compared to its average volume of 444,371. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 2.29. The stock has a market cap of $111.86 million, a P/E ratio of -1.03 and a beta of 3.62. Inotiv has a 52-week low of $1.23 and a 52-week high of $11.42. The company’s 50 day moving average price is $3.11 and its 200 day moving average price is $2.21.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Nigel Brown bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average cost of $4.26 per share, for a total transaction of $31,950.00. Following the acquisition, the director now directly owns 65,537 shares in the company, valued at approximately $279,187.62. This trade represents a 12.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Gregory Beattie purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were acquired at an average price of $4.75 per share, with a total value of $142,500.00. Following the purchase, the chief operating officer now directly owns 161,761 shares in the company, valued at $768,364.75. This represents a 22.77 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 71,029 shares of company stock worth $314,248 in the last quarter. 5.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inotiv

Several large investors have recently added to or reduced their stakes in NOTV. American Century Companies Inc. raised its position in shares of Inotiv by 109.6% in the second quarter. American Century Companies Inc. now owns 295,589 shares of the company’s stock valued at $491,000 after purchasing an additional 154,541 shares during the period. King Luther Capital Management Corp raised its holdings in Inotiv by 101.4% during the 2nd quarter. King Luther Capital Management Corp now owns 198,600 shares of the company’s stock valued at $330,000 after acquiring an additional 100,000 shares during the period. Renaissance Technologies LLC lifted its position in shares of Inotiv by 29.9% during the second quarter. Renaissance Technologies LLC now owns 164,164 shares of the company’s stock worth $273,000 after acquiring an additional 37,800 shares in the last quarter. Geode Capital Management LLC grew its position 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 valued at $427,000 after purchasing an additional 18,039 shares in the last quarter. Finally, KPP Advisory Services LLC grew its position in shares of Inotiv by 4.5% in the second quarter. KPP Advisory Services LLC now owns 238,138 shares of the company’s stock valued at $395,000 after purchasing an additional 10,347 shares in the last quarter. Hedge funds and other 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.