Expro Group (NYSE:XPRO) Stock Price Down 9.4% - Here's Why

Key Points

• Down 9.4%: Expro's shares fell 9.4% to $16.17 on Wednesday (intraday low $16.29) with mid-day volume ~604,391 shares, about 47% below the average daily volume.
• Earnings beat/miss mix: Q1 EPS was $0.21, matching estimates, but revenue was $382.13M versus consensus $413.47M, a 12.5% year-over-year decline.
• Mixed analyst view and heavy institutional ownership: The stock carries an average "Hold" rating and $16.00 price target, while institutions own ~92.07% of shares with recent large additions from firms like Goldman Sachs and Jane Street.

Expro Group Holdings N.V. (NYSE:XPRO - Get Free Report)'s share price 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 mid-day trading, a decline of 47% from the average daily volume of 1,137,561 shares. The stock had previously closed at $17.84.

Analyst Upgrades and Downgrades

XPRO has been the subject of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Expro Group in a research note on Wednesday, January 21st. Piper Sandler lifted their target price on Expro Group from $13.00 to $16.00 and gave the company an "underweight" rating in a research report on Wednesday, April 15th. Freedom Capital cut Expro Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. Finally, Barclays lifted their target price on Expro Group from $16.00 to $21.00 and gave the company 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 issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Expro Group presently has an average rating of "Hold" and an average price target of $16.00.

Expro Group Stock Performance

The company has a market cap of $1.84 billion, a PE 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. The company has a 50-day moving average of $17.03 and a 200-day moving average of $15.45.

Expro Group (NYSE:XPRO - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Expro Group had a return on equity of 5.09% and a net margin of 3.22%.The business had revenue of $382.13 million for the quarter, compared to analysts' expectations of $413.47 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business's revenue was down 12.5% on a year-over-year basis. As a group, analysts anticipate that Expro Group Holdings N.V. will post 0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XPRO. AQR Capital Management LLC boosted its position in Expro Group by 47.3% in the first quarter. AQR Capital Management LLC now owns 161,099 shares of the company's stock worth $1,601,000 after purchasing an additional 51,727 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Expro Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,285 shares of the company's stock worth $559,000 after purchasing an additional 2,463 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Expro Group by 47.8% in the first quarter. Goldman Sachs Group Inc. now owns 903,612 shares of the company's stock worth $8,982,000 after purchasing an additional 292,198 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Expro Group by 17.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,788 shares of the company's stock worth $2,811,000 after purchasing an additional 42,203 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Expro Group by 732.6% in the first quarter. Jane Street Group LLC now owns 421,163 shares of the company's stock worth $4,186,000 after purchasing an additional 370,579 shares during the last quarter. Hedge funds and other institutional investors 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.

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