inTEST (NYSE:INTT) Updates Q1 2024 Earnings Guidance

inTEST (NYSE:INTT) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.100-0.100 for the period, compared to the consensus earnings per share estimate of 0.100. The company issued revenue guidance of $29.0 million-$29.0 million, compared to the consensus revenue estimate of $29.0 million. inTEST also updated its FY 2024 guidance to EPS.

inTEST Trading Down 2.1 %

NYSE:INTT opened at $11.03 on Friday. The firm has a market cap of $134.12 million, a PE ratio of 11.16 and a beta of 1.97. The stock has a fifty day moving average price of $11.83 and a 200 day moving average price of $12.57. inTEST has a 12-month low of $10.66 and a 12-month high of $27.17. The company has a current ratio of 3.53, a quick ratio of 2.70 and a debt-to-equity ratio of 0.09.

inTEST (NYSE:INTT) last released its earnings results on Wednesday, March 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. inTEST had a return on equity of 13.46% and a net margin of 8.02%. The firm had revenue of $27.88 million during the quarter, compared to analyst estimates of $32.70 million. Sell-side analysts anticipate that inTEST will post 1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut inTEST from a buy rating to a hold rating in a research note on Saturday, April 6th.

Insider Transactions at inTEST

In other news, CEO Richard N. Jr. Grant sold 21,500 shares of inTEST stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $12.03, for a total transaction of $258,645.00. Following the sale, the chief executive officer now owns 171,717 shares in the company, valued at $2,065,755.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard N. Jr. Grant sold 20,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $12.80, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard N. Jr. Grant sold 21,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 171,717 shares in the company, valued at approximately $2,065,755.51. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On inTEST

Institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP boosted its holdings in inTEST by 21.1% in the 1st quarter. Engineers Gate Manager LP now owns 17,418 shares of the company’s stock valued at $187,000 after purchasing an additional 3,030 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in inTEST by 9,172.2% in the 2nd quarter. Wells Fargo & Company MN now owns 6,676 shares of the company’s stock valued at $175,000 after purchasing an additional 6,604 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in inTEST in the 4th quarter valued at approximately $172,000. Wellington Management Group LLP purchased a new stake in inTEST in the 1st quarter valued at approximately $161,000. Finally, Barclays PLC purchased a new stake in inTEST in the 1st quarter valued at approximately $154,000. Institutional investors and hedge funds own 63.18% of the company’s stock.

inTEST Company Profile

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.