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

inTEST (NYSE:INTT) announced its quarterly earnings data 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 return on equity of 13.46% and a net margin of 8.02%. The business had revenue of $29.82 million during the quarter, compared to analyst estimates of $29.10 million. inTEST updated its Q2 2024 guidance to EPS.

inTEST Stock Down 2.9 %

Shares of INTT stock traded down $0.31 on Wednesday, reaching $10.48. 164,012 shares of the company’s stock traded hands, compared to its average volume of 104,328. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.70 and a current ratio of 3.53. inTEST has a 12-month low of $9.71 and a 12-month high of $27.17. The business’s 50 day moving average price is $11.69 and its two-hundred day moving average price is $12.24. The company has a market capitalization of $130.87 million, a P/E ratio of 16.32 and a beta of 2.01.

Insider Transactions at inTEST

In other news, CEO Richard N. Jr. Grant sold 21,500 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $12.03, for a total value of $258,645.00. Following the transaction, the chief executive officer now directly owns 171,717 shares of the company’s stock, valued at $2,065,755.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other inTEST news, CEO Richard N. Jr. Grant sold 21,500 shares of inTEST stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $12.03, for a total value of $258,645.00. Following the completion of the sale, the chief executive officer now directly owns 171,717 shares in the company, valued at $2,065,755.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard N. Jr. Grant sold 20,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was 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 disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.

Hedge Funds Weigh In On inTEST

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC increased its position in inTEST by 24.2% during the fourth quarter. First Eagle Investment Management LLC now owns 447,197 shares of the company’s stock worth $6,082,000 after acquiring an additional 87,249 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in inTEST by 56.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 356,042 shares of the company’s stock valued at $4,842,000 after acquiring an additional 128,082 shares in the last quarter. Bard Associates Inc. lifted its position in shares of inTEST by 0.8% in the 4th quarter. Bard Associates Inc. now owns 195,000 shares of the company’s stock worth $2,652,000 after acquiring an additional 1,475 shares during the period. Kennedy Capital Management LLC increased its holdings in inTEST by 8.1% in the 3rd quarter. Kennedy Capital Management LLC now owns 125,008 shares of the company’s stock valued at $1,896,000 after buying an additional 9,384 shares during the period. Finally, Stansberry Asset Management LLC increased its stake in inTEST by 145.8% in the third quarter. Stansberry Asset Management LLC now owns 113,911 shares of the company’s stock valued at $1,728,000 after acquiring an additional 67,561 shares during the period. Institutional investors and hedge funds own 63.18% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.