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

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

inTEST Stock Down 1.9 %

Shares of NYSE INTT opened at $10.58 on Thursday. The firm’s 50 day moving average price is $11.67 and its 200 day moving average price is $12.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.70 and a current ratio of 3.53. The firm has a market cap of $132.12 million, a P/E ratio of 16.28 and a beta of 2.01. inTEST has a 1 year low of $9.71 and a 1 year high of $27.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INTT shares. Lake Street Capital cut their target price on inTEST from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com downgraded shares of inTEST from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th.

Insider Activity

In related news, CEO Richard N. Jr. Grant sold 20,000 shares of inTEST stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $12.80, for a total transaction of $256,000.00. Following the transaction, the chief executive officer now owns 215,217 shares in the company, valued at approximately $2,754,777.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Richard N. Jr. Grant sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were 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 directly owns 215,217 shares in the company, valued at $2,754,777.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard N. Jr. Grant sold 21,500 shares of inTEST 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 sale, the chief executive officer now 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. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of inTEST by 76.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,640 shares of the company’s stock valued at $50,000 after acquiring an additional 1,574 shares in the last quarter. Barclays PLC lifted its position in shares of inTEST by 161.9% in the 3rd quarter. Barclays PLC now owns 7,521 shares of the company’s stock worth $114,000 after buying an additional 4,649 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of inTEST in the 3rd quarter valued at about $165,000. Great Valley Advisor Group Inc. bought a new stake in shares of inTEST during the 3rd quarter valued at about $167,000. Finally, D.A. Davidson & CO. acquired a new position in inTEST in the third quarter valued at approximately $168,000. Institutional investors own 63.18% of the company’s stock.

About inTEST

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.