Innovex International (NYSE:INVX) Sets New 1-Year High – Here’s Why

Shares of Innovex International, Inc. (NYSE:INVX) reached a new 52-week high on Tuesday . The stock traded as high as $24.58 and last traded at $24.37, with a volume of 39728 shares changing hands. The stock had previously closed at $23.56.

Analyst Upgrades and Downgrades

INVX has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Innovex International in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.00.

Innovex International Stock Performance

The stock has a 50 day moving average price of $22.13 and a two-hundred day moving average price of $18.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 16.64 and a beta of 0.74.

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 8.51% and a net margin of 10.59%.

Institutional Trading of Innovex International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its holdings in Innovex International by 26,300.0% during the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after buying an additional 1,841 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in 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 purchasing an additional 511 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Innovex International by 150.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after purchasing an additional 2,022 shares during the period. Westfuller Advisors LLC acquired a new position in Innovex International during the 3rd quarter valued at about $53,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of 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 during the last quarter.

About Innovex International

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.