Innovex International (NYSE:INVX) Shares Down 5.8% – Should You Sell?

Innovex International, Inc. (NYSE:INVX)’s stock price dropped 5.8% on Tuesday . The stock traded as low as $15.79 and last traded at $15.81. Approximately 95,164 shares changed hands during trading, a decline of 78% from the average daily volume of 428,774 shares. The stock had previously closed at $16.78.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INVX. Pickering Energy Partners raised shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Barclays cut their price target on Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a research note on Tuesday, November 26th.

Innovex International Trading Down 0.8 %

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 business has a 50 day moving average of $15.13. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 11.25 and a beta of 0.89.

Insider Buying and Selling

In other news, CFO Kendal Reed bought 3,765 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,473,160.96. The trade was a 2.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Innovex International

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in shares of Innovex International by 4.0% in the 4th quarter. Rhumbline Advisers now owns 112,143 shares of the company’s stock valued at $1,567,000 after purchasing an additional 4,297 shares during the last quarter. Legato Capital Management LLC lifted its position in Innovex International by 68.6% in the fourth quarter. Legato Capital Management LLC now owns 148,794 shares of the company’s stock worth $2,079,000 after buying an additional 60,554 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Innovex International by 9.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the company’s stock worth $254,000 after buying an additional 1,500 shares during the period. Empowered Funds LLC increased its position in Innovex International by 5.0% during the fourth quarter. Empowered Funds LLC now owns 53,745 shares of the company’s stock valued at $751,000 after acquiring an additional 2,569 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Innovex International by 8.9% in the 4th quarter. State of Alaska Department of Revenue now owns 21,402 shares of the company’s stock worth $298,000 after acquiring an additional 1,741 shares during the last quarter.

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.