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

Expro Group Holdings N.V. (NYSE:XPRO) shares were down 6.3% on Wednesday . The company traded as low as $14.78 and last traded at $14.4760. Approximately 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Freedom Capital raised shares of Expro Group from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. The Goldman Sachs Group set a $19.00 target price on shares of Expro Group in a research report on Thursday, June 4th. Piper Sandler boosted their price target on shares of Expro Group from $13.00 to $16.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 15th. Barclays upped their price target on shares of Expro Group from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded Expro Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Expro Group currently has an average rating of “Hold” and an average target price of $19.33.

Expro Group Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.13 and a quick ratio of 1.76. The stock has a market cap of $1.57 billion, a PE ratio of 43.27 and a beta of 0.89. The business has a 50 day moving average price of $16.22 and a two-hundred day moving average price of $15.92.

Insiders Place Their Bets

In other Expro Group news, Director Eileen Goss Whelley sold 6,168 shares of the stock in a transaction on Wednesday, June 3rd. The shares were 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 of the company’s stock, valued at $721,390.72. This represents a 11.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by insiders.

Institutional Trading of Expro Group

A number of institutional investors have recently modified their holdings of the company. Integrated Investment Consultants LLC purchased a new position in Expro Group during the 1st quarter valued at about $352,000. Amundi raised its position in Expro Group by 62.9% during the 1st quarter. Amundi now owns 44,071 shares of the company’s stock valued at $767,000 after purchasing an additional 17,010 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Expro Group by 27.4% in the 1st quarter. California State Teachers Retirement System now owns 125,954 shares of the company’s stock worth $2,193,000 after buying an additional 27,076 shares during the period. Royal Bank of Canada lifted its holdings in Expro Group by 43.8% in the 1st quarter. Royal Bank of Canada now owns 4,015 shares of the company’s stock worth $71,000 after buying an additional 1,222 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Expro Group by 5.0% in the 1st quarter. Empowered Funds LLC now owns 542,539 shares of the company’s stock worth $9,446,000 after buying an additional 25,914 shares during the last quarter. 92.07% of the stock is currently owned by hedge funds and other 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.