inTEST (NYSE:INTT) Issues Earnings Results, Beats Expectations By $0.02 EPS

inTEST (NYSE:INTT) announced its quarterly earnings results on Monday. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02, reports. inTEST had a net margin of 8.02% and a return on equity of 13.46%. The business had revenue of $29.82 million during the quarter, compared to analysts’ expectations of $29.10 million. inTEST updated its Q2 2024 guidance to EPS.

inTEST Stock Down 2.9 %

inTEST stock traded down $0.31 on Wednesday, hitting $10.48. 164,012 shares of the stock traded hands, compared to its average volume of 104,328. The business’s fifty day simple moving average is $11.69 and its 200 day simple moving average is $12.24. The firm has a market cap of $130.87 million, a P/E ratio of 16.32 and a beta of 2.01. The company has a current ratio of 3.53, a quick ratio of 2.70 and a debt-to-equity ratio of 0.09. inTEST has a 1 year low of $9.71 and a 1 year high of $27.17.

Analyst Ratings Changes

INTT has been the subject of a number of research analyst reports. Lake Street Capital dropped their price target on inTEST from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com cut shares of inTEST from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th.

Insider Transactions at inTEST

In other news, CEO Richard N. Jr. Grant sold 21,500 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $12.03, for a total transaction of $258,645.00. Following the completion of the transaction, the chief executive officer now directly owns 171,717 shares in the company, valued at $2,065,755.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard N. Jr. Grant sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $12.80, for a total value of $256,000.00. Following the completion of the transaction, the chief executive officer now owns 215,217 shares in the company, valued at $2,754,777.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard N. Jr. Grant sold 21,500 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $12.03, for a total value of $258,645.00. Following the completion of the transaction, the chief executive officer now directly owns 171,717 shares of the company’s stock, valued at approximately $2,065,755.51. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Institutional Trading of inTEST

Large investors have recently made changes to their positions in the stock. Great Valley Advisor Group Inc. bought a new position in inTEST in the 3rd quarter worth $167,000. Stansberry Asset Management LLC increased its stake in inTEST by 145.8% during the third quarter. Stansberry Asset Management LLC now owns 113,911 shares of the company’s stock worth $1,728,000 after acquiring an additional 67,561 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of inTEST by 49.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 359,948 shares of the company’s stock worth $5,460,000 after acquiring an additional 118,449 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of inTEST during the third quarter valued at approximately $309,000. Finally, Barclays PLC lifted its holdings in inTEST by 161.9% during the 3rd quarter. Barclays PLC now owns 7,521 shares of the company’s stock valued at $114,000 after buying an additional 4,649 shares in the last quarter. 63.18% of the stock is currently owned by institutional investors.

inTEST Company Profile

inTEST Corporation provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through three segments: Electronic Test, Environmental Technologies, and Process Technologies.