Expro Group (NYSE:XPRO) Stock Price Down 9.4% – Here’s Why

Expro Group Holdings N.V. (NYSE:XPRO) dropped 9.4% during trading on Wednesday . The company traded as low as $16.29 and last traded at $16.17. Approximately 604,391 shares changed hands during trading, a decline of 47% from the average daily volume of 1,137,561 shares. The stock had previously closed at $17.84.

Analyst Ratings Changes

XPRO has been the topic of a number of recent research reports. Freedom Capital cut Expro Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Expro Group in a research note on Wednesday, January 21st. Barclays lifted their price objective on shares of Expro Group from $16.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Piper Sandler boosted their target price on shares of Expro Group from $13.00 to $16.00 and gave the company an “underweight” rating in a report on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Expro Group Stock Performance

The company has a 50-day moving average price of $17.03 and a two-hundred day moving average price of $15.45. The stock has a market capitalization of $1.84 billion, a P/E ratio of 35.97 and a beta of 0.97. 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 announced its quarterly earnings results on Thursday, February 19th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Expro Group had a return on equity of 5.09% and a net margin of 3.22%.The firm had revenue of $382.13 million for the quarter, compared to analysts’ expectations of $413.47 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company’s revenue was down 12.5% on a year-over-year basis. Equities analysts expect that Expro Group Holdings N.V. will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On Expro Group

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Expro Group by 20.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,030,884 shares of the company’s stock worth $147,264,000 after acquiring an additional 1,878,245 shares during the last quarter. Vanguard Group Inc. increased its stake in Expro Group by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,626,402 shares of the company’s stock worth $126,242,000 after acquiring an additional 38,826 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Expro Group by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,383,833 shares of the company’s stock worth $71,876,000 after acquiring an additional 432,477 shares during the last quarter. Jennison Associates LLC bought a new position in Expro Group in the 4th quarter worth about $58,165,000. Finally, Qube Research & Technologies Ltd increased its stake in Expro Group by 35.3% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,553,748 shares of the company’s stock worth $13,347,000 after acquiring an additional 405,168 shares during the last quarter. 92.07% of the stock is currently owned by institutional investors.

About Expro Group

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.