Acuitas Investments LLC Lowers Stock Holdings in Innovex International, Inc. $INVX

Acuitas Investments LLC lowered its holdings in Innovex International, Inc. (NYSE:INVX) by 22.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,353 shares of the company’s stock after selling 54,956 shares during the period. Innovex International accounts for 2.3% of Acuitas Investments LLC’s investment portfolio, making the stock its 17th biggest position. Acuitas Investments LLC owned about 0.27% of Innovex International worth $2,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in shares of Innovex International by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company’s stock valued at $106,000 after purchasing an additional 794 shares during the period. US Bancorp DE grew its position in shares of Innovex International by 234.0% in the first quarter. US Bancorp DE now owns 1,533 shares of the company’s stock valued at $28,000 after purchasing an additional 1,074 shares during the period. GAMMA Investing LLC grew its position in shares of Innovex International by 169.7% in the first quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock valued at $38,000 after purchasing an additional 1,322 shares during the period. New York State Teachers Retirement System grew its position in shares of Innovex International by 2.3% in the first quarter. New York State Teachers Retirement System now owns 61,132 shares of the company’s stock valued at $1,098,000 after purchasing an additional 1,399 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after purchasing an additional 1,467 shares during the period.

Analysts Set New Price Targets

A number of research firms have issued reports on INVX. Weiss Ratings reissued a “hold (c+)” rating on shares of Innovex International in a research report on Wednesday, October 8th. Wall Street Zen downgraded Innovex International from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Piper Sandler began coverage on Innovex International in a research report on Tuesday, July 15th. They set an “overweight” rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Innovex International Trading Up 5.8%

Shares of INVX opened at $20.44 on Friday. The stock’s 50-day moving average is $17.54 and its two-hundred day moving average is $16.26. The stock has a market cap of $1.41 billion, a PE ratio of 7.07 and a beta of 0.74. Innovex International, Inc. has a 12 month low of $11.93 and a 12 month high of $20.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.60 and a quick ratio of 2.69.

Innovex International (NYSE:INVX) last issued its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.12) EPS for the quarter. The company had revenue of $87.23 million for the quarter. Innovex International had a return on equity of 8.58% and a net margin of 16.66%.

Innovex International 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.