Innovex International (NYSE:INVX) Trading Up 2.7% – Should You Buy?

Shares of Innovex International, Inc. (NYSE:INVX) rose 2.7% during mid-day trading on Wednesday . The stock traded as high as $13.99 and last traded at $13.56. Approximately 515,425 shares changed hands during mid-day 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 objective on Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a report on Tuesday, November 26th.

Innovex International Price Performance

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

Insider Buying and Selling

In other Innovex International news, CFO Kendal Reed purchased 3,765 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 186,232 shares in the company, valued at $2,473,160.96. The trade was a 2.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Innovex International stock. Principal Financial Group Inc. bought a new stake in shares of Innovex International, Inc. (NYSE:INVX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 reporting period.

About Innovex International

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.