Expro Group (NYSE:XPRO) Shares Down 7.2% - What's Next?

Key Points

• Expro Group's share price dropped by 7.2%, trading as low as $11.18 before closing at $11.03, with trading volume down 48% from its average.
• Several analysts have issued ratings for XPRO, with a consensus rating of "Moderate Buy" and a price target of $11.50.
• Expro Group reported earnings of $0.16 per share for the last quarter, exceeding expectations and is forecasted to post an EPS of 0.68 for the current year.

Expro Group Holdings N.V. (NYSE:XPRO - Get Free Report)'s share price traded down 7.2% during trading on Wednesday . The stock traded as low as $11.18 and last traded at $11.03. 632,559 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 1,217,564 shares. The stock had previously closed at $11.89.

Wall Street Analysts Forecast Growth

XPRO has been the subject of several recent analyst reports. Pickering Energy Partners started coverage on shares of Expro Group in a research report on Monday, July 28th. They set an "outperform" rating for the company. Wells Fargo & Company started coverage on shares of Expro Group in a research report on Tuesday, May 27th. They issued an "overweight" rating and a $12.00 price target for the company. Piper Sandler started coverage on shares of Expro Group in a research note on Tuesday, July 15th. They issued a "neutral" rating and a $10.00 price objective for the company. Barclays lifted their target price on Expro Group from $12.00 to $15.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, The Goldman Sachs Group decreased their target price on Expro Group from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.25.

Expro Group Price Performance

The company's 50-day simple moving average is $9.06 and its 200-day simple moving average is $10.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.74 and a current ratio of 2.14. The company has a market capitalization of $1.22 billion, a PE ratio of 17.26 and a beta of 1.20.

Expro Group (NYSE:XPRO - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.04. The firm had revenue of $422.74 million for the quarter, compared to analyst estimates of $408.04 million. Expro Group had a return on equity of 6.43% and a net margin of 4.26%. As a group, sell-side analysts anticipate that Expro Group Holdings N.V. will post 0.68 earnings per share for the current year.

Institutional Trading of Expro Group

Several hedge funds and other institutional investors have recently made changes to their positions in XPRO. Nisa Investment Advisors LLC lifted its position in Expro Group by 2,394.2% in the second quarter. Nisa Investment Advisors LLC now owns 3,018 shares of the company's stock valued at $26,000 after purchasing an additional 2,897 shares during the period. Sterling Capital Management LLC raised its stake in shares of Expro Group by 824.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,033 shares of the company's stock worth $38,000 after buying an additional 2,705 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Expro Group in the 1st quarter valued at approximately $87,000. Brighton Jones LLC purchased a new stake in shares of Expro Group in the first quarter valued at approximately $103,000. Finally, Pallas Capital Advisors LLC acquired a new position in Expro Group during the second quarter worth $90,000. Hedge funds and other 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.