Innovex International (NYSE:INVX) Hits New 52-Week High – Here’s What Happened

Innovex International, Inc. (NYSE:INVX)’s stock price reached a new 52-week high on Monday . The company traded as high as $24.34 and last traded at $23.5650, with a volume of 219599 shares. The stock had previously closed at $22.78.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on INVX shares. Piper Sandler boosted their target price on shares of Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Innovex International in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Innovex International Price Performance

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 firm’s 50-day moving average is $21.94 and its 200-day moving average is $18.77. The company has a market capitalization of $1.56 billion, a P/E ratio of 18.88 and a beta of 0.74.

Innovex International (NYSE:INVX) last announced its earnings results on Wednesday, February 23rd. The company reported ($0.12) earnings per share (EPS) for the quarter. Innovex International had a net margin of 10.59% and a return on equity of 8.51%. The business had revenue of $87.23 million for the quarter.

Institutional Trading of Innovex International

Several large investors have recently made changes to their positions in the company. Covestor Ltd raised its position in Innovex International by 26,300.0% in the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock valued at $34,000 after purchasing an additional 1,841 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Innovex International by 150.3% in 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 last quarter. Westfuller Advisors LLC acquired a new stake in Innovex International in the third quarter valued at about $53,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Innovex International by 418.1% in the second 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 period.

Innovex International Company 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.