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

Expro Group Holdings (NYSE:XPRO) shares gapped up prior to trading on Wednesday after an insider bought additional shares in the company. 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. bought 18,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $787,971.59. This represents a 35.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Jardon acquired 45,200 shares of Expro Group stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $10.91 per share, with a total value of $493,132.00. Following the completion of the purchase, the chief executive officer now owns 336,674 shares in the company, valued at $3,673,113.34. The trade was a 15.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on XPRO shares. The Goldman Sachs Group began coverage on Expro Group in a report on Friday, December 13th. They issued a “neutral” rating and a $18.00 target price on the stock. Barclays dropped their price objective on shares of Expro Group from $28.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th.

Expro Group Stock 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 stock’s 50-day moving average is $13.80 and its 200 day moving average is $18.11. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 82.43, a P/E/G ratio of 1.43 and a beta of 1.00.

Expro Group (NYSE:XPRO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.23 earnings per share 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 for the quarter, compared to analyst estimates of $436.62 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Expro Group’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts predict that Expro Group Holdings will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expro Group

A number of large investors have recently made changes to their positions in XPRO. Geode Capital Management LLC lifted its position in shares of Expro Group by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,326,582 shares of the company’s stock valued at $39,956,000 after acquiring an additional 199,554 shares during the period. Barclays PLC raised its holdings 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 purchasing an additional 135,481 shares during the last quarter. Yaupon Capital Management LP boosted its position in Expro Group by 318.3% during the third quarter. Yaupon Capital Management LP now owns 288,301 shares of the company’s stock worth $4,950,000 after purchasing an additional 219,380 shares in the last quarter. State Street Corp grew its holdings in 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 purchasing an additional 189,085 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Expro Group in the third quarter valued at $3,213,000. Hedge funds and other institutional investors 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.