Key Points
- Insider sale: Innovex International insider Mark Reddout sold 10,750 shares on June 2 at an average price of $28.00, totaling about $301,000. After the sale, he still owned 134,312 shares, a 7.41% reduction in his holdings.
- Stock performance and valuation: INVX shares were down 2.5% and opened at $27.34. The company has a market cap of $1.88 billion and has traded between $14.65 and $32.25 over the past 12 months.
- Analyst sentiment: Recent analyst opinions were mixed, with targets ranging from $26 to $35. MarketBeat reports an average rating of Moderate Buy and an average price target of $31.67.
Innovex International, Inc. (NYSE:INVX - Get Free Report) insider Mark Reddout sold 10,750 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total value of $301,000.00. Following the sale, the insider directly owned 134,312 shares of the company's stock, valued at approximately $3,760,736. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Innovex International Trading Down 2.5%
Shares of INVX stock opened at $27.34 on Thursday. The company has a market capitalization of $1.88 billion, a P/E ratio of 36.45 and a beta of 0.82. 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 business's 50 day moving average is $26.96 and its two-hundred day moving average is $25.10. Innovex International, Inc. has a twelve month low of $14.65 and a twelve month high of $32.25.
Analysts Set New Price Targets
A number of research firms recently weighed in on INVX. Weiss Ratings lowered shares of Innovex International from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Citigroup assumed coverage on shares of Innovex International in a research note on Thursday, May 7th. They issued a "buy" rating and a $35.00 target price for the company. Zacks Research raised shares of Innovex International from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. Barclays boosted their price target on shares of Innovex International from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Finally, Piper Sandler lifted their price target on Innovex International from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Innovex International has an average rating of "Moderate Buy" and an average price target of $31.67.
Read Our Latest Research Report on INVX
Institutional Trading of Innovex International
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new position in Innovex International in the fourth quarter valued at about $44,000. Smartleaf Asset Management LLC boosted its stake in shares of Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company's stock worth $40,000 after acquiring an additional 511 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Innovex International in the 4th quarter worth approximately $55,000. Covestor Ltd grew its holdings in shares of Innovex International by 77.7% in the 4th quarter. Covestor Ltd now owns 3,284 shares of the company's stock worth $72,000 after acquiring an additional 1,436 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Innovex International by 418.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company's stock valued at $55,000 after purchasing an additional 2,843 shares in the last quarter.
About Innovex International
(
Get Free Report)
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.
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