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 trading hands.

Specifically, Director Robert Wayne Drummond, Jr. acquired 18,000 shares of Expro Group stock in a transaction dated 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 completion of the purchase, the director now owns 69,181 shares in the company, valued at approximately $787,971.59. The trade was a 35.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Jardon bought 45,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $10.91 per share, with a total value of $493,132.00. Following the completion of the acquisition, the chief executive officer now owns 336,674 shares of the company’s stock, valued at $3,673,113.34. This trade represents a 15.51 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of research firms have issued reports on XPRO. Barclays decreased their price objective 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. The Goldman Sachs Group assumed coverage on shares of Expro Group in a research note on Friday, December 13th. They issued a “neutral” rating and a $18.00 price target for the company.

Expro Group Price Performance

The stock has a fifty day simple moving average of $13.80 and a 200-day simple moving average of $18.11. The company has a market capitalization of $1.36 billion, a PE ratio of 82.43, a P/E/G ratio of 1.43 and a beta of 1.00. The company has a current ratio of 1.98, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Expro Group (NYSE:XPRO) last issued its earnings results on Thursday, October 24th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $422.83 million for the quarter, compared to analyst estimates of $436.62 million. Expro Group had a return on equity of 3.70% and a net margin of 0.98%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) EPS. Equities analysts anticipate that Expro Group Holdings will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Expro Group by 9.4% during the third quarter. Geode Capital Management LLC now owns 2,326,582 shares of the company’s stock worth $39,956,000 after purchasing an additional 199,554 shares in the last quarter. Barclays PLC increased its position in Expro Group by 40.1% during the third quarter. Barclays PLC now owns 473,492 shares of the company’s stock worth $8,129,000 after buying an additional 135,481 shares during the period. Yaupon Capital Management LP lifted its stake in Expro Group by 318.3% in the third quarter. Yaupon Capital Management LP now owns 288,301 shares of the company’s stock valued at $4,950,000 after buying an additional 219,380 shares during the last quarter. State Street Corp boosted its holdings in shares of Expro Group by 7.6% in the third quarter. State Street Corp now owns 2,692,260 shares of the company’s stock valued at $46,226,000 after acquiring an additional 189,085 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Expro Group during the third quarter worth approximately $3,213,000. Institutional investors and hedge funds own 92.07% of the company’s 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.