inTEST (NYSE:INTT) Shares Down 7% – Here’s What Happened

inTEST Co. (NYSE:INTT)’s share price dropped 7% on Friday . The stock traded as low as $16.22 and last traded at $16.62. Approximately 1,783,577 shares were traded during trading, an increase of 672% from the average session volume of 230,892 shares. The stock had previously closed at $17.88.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INTT shares. Lake Street Capital increased their target price on shares of inTEST from $10.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Zacks Research lowered shares of inTEST from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

inTEST Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.26 and a quick ratio of 1.38. The firm has a market capitalization of $208.83 million, a PE ratio of 72.26 and a beta of 1.50. The firm has a fifty day moving average price of $17.32 and a 200 day moving average price of $13.00.

Institutional Trading of inTEST

A number of institutional investors have recently bought and sold shares of INTT. Royce & Associates LP increased its position in inTEST by 7.3% in the 4th quarter. Royce & Associates LP now owns 1,555,020 shares of the company’s stock worth $11,616,000 after purchasing an additional 106,222 shares during the last quarter. Globeflex Capital L P grew its position in inTEST by 632.6% in the first quarter. Globeflex Capital L P now owns 118,572 shares of the company’s stock worth $1,619,000 after acquiring an additional 102,387 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of inTEST during the 1st quarter worth $1,275,000. Sei Investments Co. bought a new position in shares of inTEST during the 1st quarter valued at $1,185,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of inTEST in the 4th quarter valued at $598,000. Institutional investors and hedge funds own 63.18% of the company’s stock.

About inTEST

inTEST Corporation (NYSE: INTT) is a developer and manufacturer of precision instrumentation and test solutions designed for the semiconductor, microelectronics and related manufacturing industries. The company’s offerings focus on thermal management and instrument interface technologies that support the environmental conditioning and electrical performance evaluation of devices under test. These solutions include temperature controllers and cyclers, thermal subsystems, load boards, connectors and custom test interfaces engineered to accelerate reliability testing, product qualification and high-volume production measurement.

Serving customers across North America, Europe and Asia, inTEST supports semiconductor fabs, assembly and packaging facilities, research laboratories and OEM equipment builders.