Expro Group Holdings (NYSE:XPRO) Sees Large Decline in Short Interest

Expro Group Holdings (NYSE:XPRO) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 4,400,000 shares, a decline of 19.3% from the February 28th total of 5,450,000 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 3.6 days.

Hedge Funds Weigh In On Expro Group

Large investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Expro Group in the fourth quarter worth $27,000. Sterling Capital Management LLC lifted its stake in Expro Group by 824.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,033 shares of the company’s stock worth $38,000 after purchasing an additional 2,705 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Expro Group by 56.0% during the 4th quarter. US Bancorp DE now owns 4,171 shares of the company’s stock valued at $52,000 after purchasing an additional 1,497 shares during the last quarter. KBC Group NV lifted its stake in shares of Expro Group by 75.3% in the 4th quarter. KBC Group NV now owns 5,968 shares of the company’s stock valued at $74,000 after purchasing an additional 2,563 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Expro Group in the 3rd quarter worth approximately $171,000. Hedge funds and other institutional investors own 92.07% of the company’s stock.

Expro Group Stock Performance

Shares of NYSE XPRO traded down $0.26 during midday trading on Wednesday, hitting $9.68. 25,071 shares of the company’s stock traded hands, compared to its average volume of 1,144,862. The firm has a fifty day moving average of $11.95 and a 200 day moving average of $13.48. Expro Group has a 1 year low of $9.66 and a 1 year high of $24.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.98. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 69.09, a price-to-earnings-growth ratio of 1.28 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Expro Group from $17.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on Expro Group in a research report on Friday, December 13th. They issued a “neutral” rating and a $18.00 price target on the stock.

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.