Oilfield equipment co Innovex drops after unveiling secondary offering
INVX•Analyst views
Four of five analysts rate the stock "strong buy" or "buy", while one rates it "hold". The median price target is $35.
Amberjack stake and recent stock performance
Prior to the offering, private equity firm Amberjack owned about 22.76 million shares, or roughly 32.5% of INVX's approximately 69.94 million shares outstanding, according to LSEG data.
INVX closed up 0.9% at $30.70 on Thursday and is up 40% year to date.
Innovex falls after secondary offering announcement
Shares of oilfield equipment provider Innovex International (INVX.N) were down 1.5% to $30.24 in extended trading after news of a secondary offering.
Houston, Texas-based INVX said affiliates of Amberjack Capital Partners will part with 5 million shares.
Barclays is the sole underwriter.
