Expro Group (NYSE:XPRO) Shares Gap Down – Here’s Why

Expro Group Holdings N.V. (NYSE:XPRO) gapped down before the market opened on Friday. The stock had previously closed at $16.77, but opened at $15.60. Expro Group shares last traded at $16.1760, with a volume of 14,480 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on XPRO shares. Weiss Ratings raised shares of Expro Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, July 29th. Barclays dropped their price target on shares of Expro Group from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Wall Street Zen raised Expro Group to a “hold” rating in a report on Saturday, September 19th. Finally, Zacks Research upgraded Expro Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Expro Group Price Performance

The company has a current ratio of 2.05, a quick ratio of 1.69 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $17.06 and a 200 day moving average of $16.34. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 93.19 and a beta of 0.96.

Expro Group (NYSE:XPRO) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). Expro Group had a net margin of 1.33% and a return on equity of 3.28%. The business had revenue of $393.18 million during the quarter, compared to analyst estimates of $387.36 million. During the same quarter last year, the business earned $0.30 earnings per share. Expro Group’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts predict that Expro Group Holdings N.V. will post 0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Expro Group

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Expro Group in the 2nd quarter worth approximately $117,773,000. Dimensional Fund Advisors LP grew its stake in Expro Group by 9.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,917,574 shares of the company’s stock valued at $103,023,000 after buying an additional 533,741 shares in the last quarter. Jennison Associates LLC raised its holdings in Expro Group by 7.9% during the 1st quarter. Jennison Associates LLC now owns 4,699,370 shares of the company’s stock valued at $81,816,000 after acquiring an additional 342,449 shares during the period. Webs Creek Capital Management LP bought a new stake in Expro Group during the 2nd quarter valued at $41,746,474. Finally, William Blair Investment Management LLC bought a new stake in Expro Group during the 2nd quarter valued at $25,762,000. 92.07% of the stock is currently owned by institutional investors and hedge funds.

About Expro Group

Expro Group, Inc provides energy services and technologies that support the exploration, development, and production of oil and natural gas wells. The company helps operators manage wells throughout their life cycles, from drilling and completion through production, intervention, and abandonment.

Its offerings include well construction and well management services, well flow management, subsea services, and well intervention and integrity solutions. These services are designed to improve operational efficiency, safety, well performance, and reservoir recovery in both offshore and onshore environments.

Headquartered in Houston, Texas, Expro serves energy companies across major oil and gas producing regions worldwide, including North America, the North Sea, the Middle East, Africa, Asia-Pacific, and Latin America.