Expro Group (NYSE:XPRO) Stock Price Down 7.5% – Here’s What Happened

Expro Group Holdings N.V. (NYSE:XPRO)’s stock price dropped 7.5% during trading on Tuesday . The company traded as low as $12.67 and last traded at $12.7430. Approximately 246,104 shares traded hands during trading, a decline of 79% from the average daily volume of 1,198,199 shares. The stock had previously closed at $13.78.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on XPRO shares. Barclays upped their price target on shares of Expro Group from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Expro Group in a research note on Wednesday, October 8th. Piper Sandler raised their target price on Expro Group from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group boosted their price target on Expro Group from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Expro Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Expro Group Trading Down 8.7%

The company has a current ratio of 2.11, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.43 billion, a PE ratio of 21.31 and a beta of 1.04. The stock has a 50 day moving average price of $13.62 and a 200 day moving average price of $11.58.

Expro Group (NYSE:XPRO) last issued its earnings results on Thursday, October 23rd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Expro Group had a net margin of 4.15% and a return on equity of 6.41%. The business had revenue of $411.36 million during the quarter, compared to analysts’ expectations of $426.65 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts predict that Expro Group Holdings N.V. will post 0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Expro Group

A number of hedge funds have recently modified their holdings of XPRO. Charles Schwab Investment Management Inc. increased its holdings in Expro Group by 7.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,239,957 shares of the company’s stock worth $12,325,000 after acquiring an additional 82,402 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Expro Group by 68.8% in the first quarter. Deutsche Bank AG now owns 155,663 shares of the company’s stock worth $1,547,000 after purchasing an additional 63,445 shares during the period. Nuveen LLC purchased a new stake in shares of Expro Group in the first quarter worth $8,231,000. HighTower Advisors LLC purchased a new stake in shares of Expro Group in the first quarter worth $125,000. Finally, Russell Investments Group Ltd. raised its position in shares of Expro Group by 2,369.5% during the 1st quarter. Russell Investments Group Ltd. now owns 200,274 shares of the company’s stock valued at $1,991,000 after purchasing an additional 192,164 shares during the period. Institutional investors own 92.07% of the company’s stock.

About Expro Group

Expro Group Holdings N.V. engages in the provision of energy services in North and Latin America, Europe and Sub-Saharan Africa, the Middle East and North Africa, and the Asia-Pacific. The company provides well construction services, such as technology solutions in drilling, tubular running services, and cementing and tubulars; and well management services, including well flow management, subsea well access, and well intervention and integrity solutions.