Expro Group (NYSE:XPRO) Stock Price Down 6.4% – Here’s What Happened

Expro Group Holdings N.V. (NYSE:XPRO) shares were down 6.4% during trading on Wednesday . The stock traded as low as $16.25 and last traded at $16.2950. Approximately 549,165 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 1,175,254 shares. The stock had previously closed at $17.41.

Analyst Ratings Changes

A number of equities research analysts have issued reports on XPRO shares. Freedom Capital downgraded Expro Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Expro Group in a research report on Wednesday, January 21st. Piper Sandler lowered Expro Group from a “neutral” rating to an “underweight” rating and set a $13.00 price target on the stock. in a report on Thursday, December 18th. Finally, Barclays raised their price target on Expro Group from $16.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Expro Group currently has a consensus rating of “Hold” and a consensus price target of $15.25.

Expro Group Stock Performance

The firm has a market cap of $1.87 billion, a PE ratio of 36.49 and a beta of 0.91. The business has a 50 day simple moving average of $16.78 and a two-hundred day simple moving average of $14.68. The company has a quick ratio of 1.79, a current ratio of 2.16 and a debt-to-equity ratio of 0.06.

Expro Group (NYSE:XPRO) last issued its earnings results on Thursday, February 19th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $382.13 million during the quarter, compared to analyst estimates of $413.47 million. Expro Group had a net margin of 3.22% and a return on equity of 5.09%. The business’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. As a group, equities research analysts forecast that Expro Group Holdings N.V. will post 0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expro Group

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Expro Group by 54.3% during the third quarter. GAMMA Investing LLC now owns 2,475 shares of the company’s stock valued at $29,000 after acquiring an additional 871 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Expro Group during the 3rd quarter worth $47,000. Global Retirement Partners LLC bought a new stake in Expro Group during the 4th quarter valued at $51,000. Quadrant Capital Group LLC raised its position in Expro Group by 2,978.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,941 shares of the company’s stock valued at $53,000 after purchasing an additional 3,813 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Expro Group in the 4th quarter worth $69,000. 92.07% of the stock is owned by hedge funds and other institutional investors.

Expro Group Company Profile

Expro Group plc is a global energy services company that specializes in well flow management and well testing solutions for the oil and gas industry. The company’s core offerings include wellhead and pressure control systems, downhole well construction tools, subsea intervention services, and integrated tubular running services. These capabilities enable exploration and production companies to optimize well performance, enhance safety and mitigate operational risk throughout the drilling, completion and intervention phases of the well life cycle.

Founded in 1973, Expro has grown both organically and through targeted acquisitions to establish a presence in more than 30 countries.