inTEST Co. (NYSEAMERICAN:INTT) Sees Significant Decline in Short Interest

inTEST Co. (NYSEAMERICAN:INTTGet Rating) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 62,800 shares, a decrease of 21.2% from the August 15th total of 79,700 shares. Based on an average trading volume of 40,200 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.6% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised inTEST from a “c” rating to a “b-” rating in a report on Friday, August 12th.

Insiders Place Their Bets

In other news, CEO Richard N. Jr. Grant sold 4,153 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $9.26, for a total value of $38,456.78. Following the completion of the sale, the chief executive officer now owns 182,284 shares in the company, valued at $1,687,949.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.10% of the stock is currently owned by insiders.

Institutional Trading of inTEST

Several large investors have recently added to or reduced their stakes in INTT. Pacific Ridge Capital Partners LLC increased its position in inTEST by 14.7% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 770,614 shares of the semiconductor company’s stock valued at $8,269,000 after acquiring an additional 98,980 shares during the period. First Eagle Investment Management LLC increased its position in shares of inTEST by 135.4% during the 1st quarter. First Eagle Investment Management LLC now owns 147,020 shares of the semiconductor company’s stock valued at $1,578,000 after purchasing an additional 84,570 shares during the period. Stansberry Asset Management LLC acquired a new position in shares of inTEST during the 4th quarter valued at $952,000. Vanguard Group Inc. increased its position in shares of inTEST by 8.8% during the 1st quarter. Vanguard Group Inc. now owns 470,599 shares of the semiconductor company’s stock valued at $5,049,000 after purchasing an additional 38,184 shares during the period. Finally, CM Management LLC increased its position in shares of inTEST by 175.0% during the 1st quarter. CM Management LLC now owns 55,000 shares of the semiconductor company’s stock valued at $590,000 after purchasing an additional 35,000 shares during the period. 48.47% of the stock is currently owned by institutional investors and hedge funds.

inTEST Stock Performance

Shares of NYSEAMERICAN INTT opened at $7.95 on Friday. The company has a market capitalization of $87.61 million, a P/E ratio of 11.69, a P/E/G ratio of 0.89 and a beta of 1.91. inTEST has a 12-month low of $6.07 and a 12-month high of $17.00.

inTEST (NYSEAMERICAN:INTTGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $29.57 million for the quarter. inTEST had a return on equity of 15.85% and a net margin of 8.55%. On average, research analysts forecast that inTEST will post 1.17 earnings per share for the current year.

About inTEST

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inTEST Corporation supplies test and process solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through two segments, Thermal Products (Thermal) and Electromechanical Semiconductor Products (EMS).

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