Innovex International (NYSE:INVX) Reaches New 12-Month Low – What’s Next?

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

Analysts Set New Price Targets

Separately, Barclays dropped their price objective on shares of Innovex International from $21.00 to $15.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 26th.

Innovex International Stock Up 0.2 %

The firm has a market capitalization of $868.81 million, a PE ratio of 9.16 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.

Insiders Place Their Bets

In other news, CFO Kendal Reed bought 3,765 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $13.28 per share, for a total transaction of $49,999.20. Following the purchase, the chief financial officer now owns 186,232 shares in the company, valued at $2,473,160.96. This represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Innovex International stock. Principal Financial Group Inc. acquired a new position in Innovex International, Inc. (NYSE:INVX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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.