Bullish indicating open at $55-$60, IPO prices at $37
Jeffrey Brennan Freeman, Vice President of Finance and Corporate Controller at Inotiv, Inc. (NASDAQ:NOTV), a small-cap company valued at $143 million that has seen its stock surge nearly 147% over the past six months, recently sold a portion of his holdings in the company. According to InvestingPro analysis, the stock is currently trading below its Fair Value. According to a recent filing, Freeman sold 1,339 shares of Inotiv’s common stock on February 18, 2025, at a price of $4.045 per share. The transaction totaled approximately $5,416. Following the sale, Freeman retains ownership of 27,478 shares in the company.
The sale was conducted to cover taxes associated with the settlement of restricted stock units, as noted in the filing.
In other recent news, Inotiv Inc. reported its financial results for the first quarter of fiscal year 2024, which showed earnings per share (EPS) of -$1.02, falling short of the analyst forecast of -$0.80. The company’s revenue also decreased to $119.9 million, missing the anticipated $127.43 million. This represents an 11.5% decline from the previous year’s first quarter revenue of $135.5 million. Additionally, Inotiv reached a settlement agreement with Freese and Nichols, Inc. to resolve a lawsuit over a wastewater treatment facility design, with FNI agreeing to pay Inotiv $7.55 million. The financial impact of this settlement will be reflected in Inotiv’s future financial statements once the payment is received. In other developments, Inotiv is focusing on expanding its client base and optimizing operations despite the challenging environment. The company has also indicated plans for improved revenue and EBITDA growth for the year. Investors and stakeholders can expect updates on the financial implications of these developments in Inotiv’s forthcoming disclosures.
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