Michael Jardon, the President and CEO of Expro Group Holdings N.V. (NYSE:XPRO), recently acquired 45,200 shares of the company's common stock. This purchase, disclosed in a Securities and Exchange Commission filing, was made at an average price of $10.91 per share, totaling approximately $493,132. The acquisition comes as the stock trades near its 52-week low of $10.71, following a significant 48% decline over the past six months. According to InvestingPro analysis, XPRO appears undervalued with strong growth potential, as net income is expected to increase this year. Following this transaction, Jardon holds 336,674 shares directly, which includes a number of restricted stock units set to vest in the coming years. The company maintains healthy financials with a current ratio of 1.98, indicating strong liquidity. Discover more insights about XPRO and access 12 additional exclusive ProTips with InvestingPro, including detailed valuation metrics and growth forecasts.
In other recent news, Expro Group Holdings N.V. reported a significant 14% increase in its Q3 revenue, amounting to $423 million. The company revised its full-year revenue guidance to fall between $1.72 billion and $1.75 billion, with adjusted EBITDA projections ranging from $335 million to $350 million. Expro also announced the extension of its stock repurchase program until 2025, with approximately $90 million remaining for stock repurchases.
In the realm of analyst coverage, Goldman Sachs initiated a neutral stance on Expro Group. The firm suggested that the company's shares could re-rate if market estimates align more closely with their own.
Moreover, Expro is actively pursuing mergers and acquisitions to enhance customer relevance and is planning a comprehensive review of internal processes to drive margin expansion. These recent developments are part of Expro's strategic focus on cost-effective solutions and market expansion. Long-term growth is anticipated in international and offshore services, with projections showing oil demand outpacing supply through 2024. These facts are based on recent developments and analyst reports.
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