Innovex International (NYSE:INVX) Hits New 12-Month Low – Here’s Why

Innovex International, Inc. (NYSE:INVX) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $12.60 and last traded at $12.97, with a volume of 56325 shares. The stock had previously closed at $12.90.

Analyst Ratings Changes

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

Innovex International Price Performance

The firm has a market capitalization of $843.25 million, a price-to-earnings ratio of 8.89 and a beta of 0.88. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01.

Insider Transactions at Innovex International

In other Innovex International news, CFO Kendal Reed acquired 3,765 shares of Innovex International stock in a transaction dated Friday, December 13th. The stock was bought at an average price 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 approximately $2,473,160.96. This trade represents a 2.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Innovex International

An institutional investor recently bought a new position in Innovex International stock. Principal Financial Group Inc. purchased a new stake in shares of Innovex International, Inc. (NYSE:INVX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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.