Inotiv Inc Down 24.92% To $4.81 After Earnings Beat

Inotiv Inc (NOTV) said after close Thursday that it earned $0.07 per share in quarter three 2023.

On the revenue line, the company reported $157.5 million, beating estimates by $6.4 million.

In the same quarter a year ago, the company lost $0.15 per share on revenue of $172.7 million.

The stock is down 24.92% to $4.81 after the report.

Inotiv Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Inotiv Inc a Bearish Sentiment Rank from InvestorsObserver.

Inotiv Inc has performed a little above average during the past few months. Before the report, Inotiv Inc received a Long-Term Technical Rank by InvestorsObserver of 55, putting it in the top half of stocks. The firm set a 52-week low on December 20, 2022 at $3.65 and set a 52-week high on August 11, 2022 at $27.22.

Inotiv Inc is a pharmaceutical development company specializing in nonclinical and analytical drug discovery and development services to the pharmaceutical, chemical, and medical device industries, and sells analytical instruments to the pharmaceutical development and contract research industries. It operates in two principal segments - Research services and Research products.