Innovex International (NYSE:INVX) Stock Price Up 9.6% – Should You Buy?

Innovex International, Inc. (NYSE:INVX)’s stock price rose 9.6% during trading on Monday . The stock traded as high as $29.35 and last traded at $29.3720. Approximately 137,332 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 505,482 shares. The stock had previously closed at $26.79.

Analyst Upgrades and Downgrades

INVX has been the subject of several analyst reports. Citigroup initiated coverage on shares of Innovex International in a report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price target for the company. Barclays raised their price target on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Piper Sandler raised their price target on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Jefferies Financial Group initiated coverage on shares of Innovex International in a report on Monday. They issued a “buy” rating and a $34.00 price target for the company. Finally, Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Innovex International has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Innovex International Price Performance

The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.99 billion, a P/E ratio of 38.57 and a beta of 0.82. The business’s fifty day moving average price is $27.08 and its 200-day moving average price is $25.18.

Insider Activity

In other news, insider Mark Reddout sold 10,750 shares of Innovex International stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the completion of the sale, the insider directly owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. The trade was a 7.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 34.90% of the company’s stock.

Institutional Trading of Innovex International

A number of hedge funds have recently made changes to their positions in INVX. AQR Capital Management LLC bought a new stake in shares of Innovex International during the 1st quarter worth $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Innovex International by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after acquiring an additional 1,467 shares during the last quarter. Caxton Associates LLP purchased a new position in Innovex International in the 1st quarter worth $270,000. Empowered Funds LLC raised its position in Innovex International by 8.2% in the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after purchasing an additional 4,386 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Innovex International by 11.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock worth $1,764,000 after purchasing an additional 10,401 shares during the period.

Innovex International Company Profile

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.