Innovex International Sees Unusually High Options Volume (NYSE:INVX)

Innovex International, Inc. (NYSE:INVX) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 5,518 call options on the company. This is an increase of approximately 8,261% compared to the average daily volume of 66 call options.

Insider Buying and Selling

In other Innovex International news, insider Mark Reddout sold 10,750 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the transaction, the insider directly owned 134,312 shares of the company’s stock, valued at $3,760,736. This represents a 7.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 34.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in shares of Innovex International by 3.5% in the first quarter. Pacer Advisors Inc. now owns 270,939 shares of the company’s stock valued at $6,608,000 after acquiring an additional 9,147 shares during the period. Empowered Funds LLC boosted its holdings in Innovex International by 3.6% in the 1st quarter. Empowered Funds LLC now owns 325,179 shares of the company’s stock valued at $7,931,000 after purchasing an additional 11,259 shares during the period. Glenmede Trust Co. NA acquired a new stake in Innovex International in the 1st quarter worth $709,000. Bank of America Corp DE increased its holdings in shares of Innovex International by 102.5% during the 1st quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock worth $15,958,000 after purchasing an additional 331,178 shares during the period. Finally, Amundi bought a new position in shares of Innovex International during the 1st quarter worth about $310,000.

Innovex International Stock Performance

INVX stock traded up $1.03 during mid-day trading on Wednesday, reaching $25.09. 104,384 shares of the stock traded hands, compared to its average volume of 501,615. The firm has a market capitalization of $1.72 billion, a PE ratio of 33.56 and a beta of 0.83. The business has a 50-day moving average of $27.23 and a two-hundred day moving average of $25.71. Innovex International has a 52 week low of $14.65 and a 52 week high of $32.25. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

A number of equities analysts recently commented on INVX shares. Zacks Research upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 16th. Barclays increased their price target on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Jefferies Financial Group raised shares of Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Innovex International from a “hold” rating to a “buy” rating in a research note on Monday, June 22nd. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Innovex International has an average rating of “Buy” and an average price target of $32.25.

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.