Expro Group (NYSE:XPRO) Shares Gap Up After Insider Buying Activity

Expro Group Holdings (NYSE:XPRO)’s share price gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $11.09, but opened at $12.40. Expro Group shares last traded at $12.29, with a volume of 606,936 shares.

Specifically, Director Robert Wayne Drummond, Jr. purchased 18,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $11.39 per share, for a total transaction of $205,020.00. Following the transaction, the director now directly owns 69,181 shares of the company’s stock, valued at approximately $787,971.59. The trade was a 35.17 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Jardon acquired 45,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average price of $10.91 per share, with a total value of $493,132.00. Following the acquisition, the chief executive officer now owns 336,674 shares of the company’s stock, valued at approximately $3,673,113.34. This trade represents a 15.51 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

Several equities research analysts have weighed in on XPRO shares. The Goldman Sachs Group assumed coverage on shares of Expro Group in a report on Friday, December 13th. They issued a “neutral” rating and a $18.00 target price on the stock. Barclays decreased their target price on Expro Group from $28.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, October 28th.

Expro Group Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.98 and a quick ratio of 1.62. The company’s 50-day moving average price is $13.69 and its 200-day moving average price is $18.07. The company has a market cap of $1.36 billion, a P/E ratio of 82.86, a P/E/G ratio of 1.43 and a beta of 1.00.

Expro Group (NYSE:XPRO) last released its earnings results on Thursday, October 24th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Expro Group had a return on equity of 3.70% and a net margin of 0.98%. The firm had revenue of $422.83 million during the quarter, compared to analysts’ expectations of $436.62 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The company’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts predict that Expro Group Holdings will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in Expro Group during the 3rd quarter worth approximately $171,000. nVerses Capital LLC acquired a new position in Expro Group during the second quarter worth $183,000. MQS Management LLC acquired a new stake in Expro Group in the 3rd quarter valued at $205,000. Transatlantique Private Wealth LLC acquired a new stake in Expro Group in the 2nd quarter valued at $214,000. Finally, Algert Global LLC bought a new stake in Expro Group during the 2nd quarter worth about $217,000. 92.07% of the stock is currently owned by institutional investors.

Expro Group Company Profile

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.