Innovex International Target of Unusually Large Options Trading (NYSE:INVX)

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

Innovex International Price Performance

NYSE:INVX traded up $1.03 during mid-day trading on Wednesday, reaching $25.09. 104,384 shares of the company were exchanged, compared to its average volume of 501,615. Innovex International has a 12 month low of $14.65 and a 12 month high of $32.25. The company has a fifty day moving average of $27.23 and a 200 day moving average of $25.71. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.72 billion, a PE ratio of 33.56 and a beta of 0.83.

Insider Buying and Selling at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00. Following the sale, the insider directly owned 134,312 shares in the company, valued at approximately $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of INVX. Strs Ohio acquired a new stake in shares of Innovex International in the 4th quarter valued at $44,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Innovex International during the fourth quarter worth approximately $55,000. Covestor Ltd boosted its stake in Innovex International by 77.7% in the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after acquiring an additional 1,436 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after acquiring an additional 2,843 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in shares of Innovex International during the 4th quarter valued at $103,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INVX shares. Zacks Research raised shares of 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 report on Friday, May 8th. Citigroup assumed coverage on shares of Innovex International in a research note on Thursday, May 7th. They set a “buy” rating and a $35.00 price target for the company. Jefferies Financial Group upgraded Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Finally, Piper Sandler increased their target price on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Innovex International presently has a consensus 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.