Innovex International (NYSE:INVX) Stock Price Up 2.7% – Here’s Why

Shares of Innovex International, Inc. (NYSE:INVX) rose 2.7% during trading on Wednesday . The stock traded as high as $13.99 and last traded at $13.56. 515,425 shares traded hands during trading, an increase of 66% from the average daily volume of 309,713 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

Separately, Barclays cut their price target on shares of Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a research report on Tuesday, November 26th.

Innovex International Trading Down 2.8 %

The stock has a market cap of $843.25 million, a P/E ratio of 8.89 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17.

Insider Buying and Selling at Innovex International

In related news, CFO Kendal Reed purchased 3,765 shares of Innovex International stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $13.28 per share, for a total transaction of $49,999.20. Following the completion of the purchase, the chief financial officer now directly owns 186,232 shares of the company’s stock, valued at $2,473,160.96. The trade was a 2.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Innovex International stock. Principal Financial Group Inc. bought a new stake in shares of Innovex International, Inc. (NYSE:INVX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 162,356 shares of the company’s stock, valued at approximately $2,383,000. Principal Financial Group Inc. owned 0.24% of Innovex International at the end of the most recent quarter.

Innovex International Company Profile

Innovex Downhole Solutions Inc designs, manufactures and installs mission-critical drilling & deployment, well construction, completion, production and fishing & intervention solutions to support upstream onshore and offshore activities. Innovex Downhole Solutions Inc, formerly known as Dril-Quip, is based in HOUSTON.