Innovex International (NYSE:INVX) Shares Gap Up – Should You Buy?

Shares of Innovex International, Inc. (NYSE:INVX) gapped up prior to trading on Friday . The stock had previously closed at $20.43, but opened at $20.95. Innovex International shares last traded at $21.5550, with a volume of 87,221 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Innovex International in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Innovex International currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Innovex International Stock Performance

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 7.56 and a beta of 0.77. The company has a quick ratio of 2.69, a current ratio of 4.60 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $18.59 and a 200 day moving average of $16.80.

Innovex International (NYSE:INVX) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.12) earnings per share (EPS) for the quarter. The business had revenue of $87.23 million for the quarter. Innovex International had a return on equity of 8.58% and a net margin of 16.66%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC increased its position in shares of Innovex International by 34.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 461,056 shares of the company’s stock worth $8,548,000 after purchasing an additional 116,878 shares during the last quarter. Wellington Management Group LLP grew its stake in Innovex International by 52.4% in the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock worth $45,141,000 after purchasing an additional 837,027 shares in the last quarter. Invesco Ltd. grew its stake in Innovex International by 5.0% in the third quarter. Invesco Ltd. now owns 344,182 shares of the company’s stock worth $6,381,000 after purchasing an additional 16,290 shares in the last quarter. Sei Investments Co. increased its holdings in Innovex International by 7.2% in the third quarter. Sei Investments Co. now owns 71,464 shares of the company’s stock valued at $1,325,000 after buying an additional 4,802 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Innovex International by 33.6% during the third quarter. BNP Paribas Financial Markets now owns 38,768 shares of the company’s stock valued at $719,000 after buying an additional 9,747 shares in the last quarter.

About Innovex International

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.