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

inTEST Co. (NYSEAMERICAN:INTTGet Rating) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 77,100 shares, a growth of 5.9% from the October 15th total of 72,800 shares. Based on an average daily trading volume, of 37,300 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.7% of the company’s stock are sold short.

Insider Buying and Selling at inTEST

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

Institutional Investors Weigh In On inTEST

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC lifted its position in shares of inTEST by 7.1% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 825,032 shares of the semiconductor company’s stock valued at $5,627,000 after acquiring an additional 54,418 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of inTEST by 2.3% during the 2nd quarter. Renaissance Technologies LLC now owns 736,137 shares of the semiconductor company’s stock valued at $5,020,000 after acquiring an additional 16,300 shares during the last quarter. Vanguard Group Inc. lifted 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 acquiring an additional 38,184 shares during the last quarter. Bard Associates Inc. lifted its position in shares of inTEST by 2.7% during the 2nd quarter. Bard Associates Inc. now owns 258,470 shares of the semiconductor company’s stock valued at $1,763,000 after acquiring an additional 6,800 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted 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 acquiring an additional 84,570 shares during the last quarter. Institutional investors and hedge funds own 48.47% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered inTEST from a “b-” rating to a “c+” rating in a report on Tuesday, October 11th.

inTEST Price Performance

Shares of INTT stock opened at $9.99 on Friday. inTEST has a 12-month low of $6.07 and a 12-month high of $17.00. The company has a market capitalization of $110.09 million, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 0.89 and a beta of 1.91.

inTEST (NYSEAMERICAN:INTTGet Rating) last issued its quarterly earnings results on Friday, November 4th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. The firm had revenue of $30.77 million during the quarter. inTEST had a return on equity of 15.85% and a net margin of 8.55%. Equities research analysts forecast that inTEST will post 1.17 EPS for the current fiscal 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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