Richard N. Grant Jr., President and CEO of INTEST Corp (NYSEAMERICAN:INTT), has recently sold a substantial number of shares in the company. Over a span of three days, Grant parted with a total of 63,500 shares, resulting in proceeds exceeding $779,000.
The transactions occurred between April 9 and April 11, with prices for the shares ranging from $12.03 to $12.8. On April 9, the executive sold 20,000 shares at an average price of $12.8. The following day, an additional 22,000 shares were sold at a weighted average price of $12.03. The sales concluded on April 11 with 21,500 shares being sold, also at an average price of $12.03.
Grant's sales were executed according to a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was adopted on December 8, 2023. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading.
Following these transactions, the CEO's ownership in INTEST Corp has been adjusted to 171,717 shares of common stock. The company, which specializes in instruments for measuring and testing electricity and electrical signals, is incorporated in Delaware and headquartered in Mt. Laurel, New Jersey.
Investors and followers of INTEST Corp can obtain further details about the specific prices at which shares were sold within the reported range upon request, as Grant has committed to providing full information regarding the number of shares sold at each separate price.
The recent sales by Grant represent a significant change in his holdings in the company, providing the market with insights into executive stock transactions at INTEST Corp.
InvestingPro Insights
In light of recent executive stock transactions at INTEST Corp (NYSEAMERICAN:INTT), investors may find it valuable to consider the company's financial health and market performance. According to InvestingPro data, INTEST Corp holds a P/E Ratio (Adjusted) of 11.03 as of the last twelve months as of Q4 2023, which indicates that the stock is trading at a low price relative to the company's earnings. This is complemented by a PEG Ratio of 0.12, suggesting that the stock's price is potentially undervalued given its earnings growth.
Moreover, the company's Price / Book value stands at 1.38, which could be attractive to investors seeking companies with a reasonable market value compared to their book value. Despite some quarterly revenue contraction, INTEST Corp has demonstrated a revenue growth of 5.54% over the last twelve months, which may reflect the company's ability to expand its business activities.
From an operational perspective, INTEST Corp's Gross Profit Margin is robust at 46.21%, indicating efficient management of its production costs and services relative to its sales. In addition, the company's strong return over the last month, with a 17.91% increase in its stock price, could catch the attention of investors looking for positive short-term performance.
InvestingPro Tips highlight that INTEST Corp holds more cash than debt on its balance sheet and is trading at a low P/E ratio relative to near-term earnings growth. These factors, combined with the fact that the valuation implies a strong free cash flow yield, may be of interest to investors seeking financially stable companies with growth potential. For those looking to delve deeper into the financial nuances of INTEST Corp, there are additional InvestingPro Tips available, which can be accessed through the company's page on InvestingPro.
Investors interested in further analysis and tips can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 8 more InvestingPro Tips listed for INTEST Corp, there's a wealth of information to help make informed investment decisions.
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