Expro Group (NYSE:XPRO) Stock Price Down 6.3% – Here’s Why

Expro Group Holdings N.V. (NYSE:XPRO) fell 6.3% on Wednesday . The stock traded as low as $14.78 and last traded at $14.4760. 518,669 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 1,107,081 shares. The stock had previously closed at $15.45.

Wall Street Analyst Weigh In

Several brokerages have weighed in on XPRO. Freedom Capital raised Expro Group from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Barclays increased their target price on Expro Group from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Piper Sandler upped their target price on shares of Expro Group from $13.00 to $16.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. KeyCorp upgraded shares of Expro Group to a “neutral” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings cut shares of Expro Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Three equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.33.

Expro Group Stock Performance

The company has a current ratio of 2.13, a quick ratio of 1.76 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $16.33 and its two-hundred day moving average price is $15.92. The company has a market cap of $1.63 billion, a P/E ratio of 44.95 and a beta of 0.89.

Insider Activity at Expro Group

In other news, Director Eileen Goss Whelley sold 6,168 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $15.14, for a total transaction of $93,383.52. Following the completion of the sale, the director owned 47,648 shares in the company, valued at approximately $721,390.72. This represents a 11.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Expro Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV purchased a new position in Expro Group during the 1st quarter worth approximately $45,000. Global Retirement Partners LLC purchased a new position in Expro Group during the 4th quarter worth approximately $51,000. Quadrant Capital Group LLC grew 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 worth $53,000 after purchasing an additional 3,813 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Expro Group during the 4th quarter worth approximately $69,000. Finally, Royal Bank of Canada grew its position in Expro Group by 43.8% during the 1st quarter. Royal Bank of Canada now owns 4,015 shares of the company’s stock worth $71,000 after purchasing an additional 1,222 shares in the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.

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.