Inotiv Sees Unusually High Options Volume (NASDAQ:NOTV)

Inotiv, Inc. (NASDAQ:NOTV - Get Free Report) saw unusually large options trading on Tuesday. Investors bought 5,192 call options on the stock. This represents an increase of approximately 2,063% compared to the average volume of 240 call options.

Inotiv Trading Up 15.0 %

Shares of Inotiv stock traded up $0.59 during trading on Tuesday, hitting $4.53. 1,377,594 shares of the company were exchanged, compared to its average volume of 448,483. The firm has a market capitalization of $117.85 million, a P/E ratio of -1.08 and a beta of 3.62. The firm's fifty day moving average price is $3.11 and its 200 day moving average price is $2.21. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.37 and a quick ratio of 1.22. Inotiv has a 1-year low of $1.23 and a 1-year high of $11.42.

Analysts Set New Price Targets

Separately, Lake Street Capital raised shares of Inotiv from a "hold" rating to a "buy" rating and lifted their target price for the stock from $2.00 to $4.00 in a report on Monday, September 30th.

Insider Transactions at Inotiv

In related news, Director Michael J. Harrington purchased 10,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $3.98 per share, with a total value of $39,800.00. Following the completion of the acquisition, the director now directly owns 37,500 shares in the company, valued at approximately $149,250. This trade represents a 36.36 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nigel Brown acquired 7,500 shares of Inotiv stock in a transaction on Tuesday, December 10th. The shares were purchased at an average cost of $4.26 per share, for a total transaction of $31,950.00. Following the acquisition, the director now owns 65,537 shares in the company, valued at approximately $279,187.62. This represents a 12.92 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 71,029 shares of company stock worth $314,248. Insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Inotiv

Large investors have recently bought and sold shares of the company. KPP Advisory Services LLC increased its holdings 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 worth $395,000 after acquiring an additional 10,347 shares in the last quarter. Geode Capital Management LLC increased its stake in Inotiv by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 250,895 shares of the company's stock worth $427,000 after purchasing an additional 18,039 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Inotiv by 29.9% during the 2nd quarter. Renaissance Technologies LLC now owns 164,164 shares of the company's stock worth $273,000 after buying an additional 37,800 shares during the period. King Luther Capital Management Corp lifted its stake in Inotiv by 101.4% in the second quarter. King Luther Capital Management Corp now owns 198,600 shares of the company's stock valued at $330,000 after buying an additional 100,000 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings 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 buying an additional 154,541 shares during the period. 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.