Exponent (NASDAQ:EXPO) Stock Price Down 4% - Here's What Happened

Exponent, Inc. (NASDAQ:EXPO - Get Free Report) dropped 4% during mid-day trading on Friday . The stock traded as low as $100.76 and last traded at $102.12. Approximately 28,659 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 245,406 shares. The stock had previously closed at $106.36.

Analyst Upgrades and Downgrades

Separately, Truist Financial restated a "buy" rating and set a $120.00 price target (up previously from $100.00) on shares of Exponent in a research report on Friday, July 26th.

Exponent Trading Down 8.9 %

The business has a fifty day simple moving average of $109.16 and a two-hundred day simple moving average of $99.91. The company has a market cap of $4.91 billion, a PE ratio of 49.95 and a beta of 0.66.

Exponent (NASDAQ:EXPO - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $125.09 million for the quarter, compared to the consensus estimate of $125.96 million. Exponent had a net margin of 19.35% and a return on equity of 28.39%. Equities analysts expect that Exponent, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In related news, VP John Pye sold 3,956 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $105.00, for a total value of $415,380.00. Following the completion of the sale, the vice president now owns 28,422 shares of the company's stock, valued at approximately $2,984,310. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Exponent

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Exponent in the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC grew its position in Exponent by 67.7% in the second quarter. GAMMA Investing LLC now owns 379 shares of the business services provider's stock worth $36,000 after acquiring an additional 153 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Exponent by 866.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the business services provider's stock worth $42,000 after acquiring an additional 459 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Exponent by 166.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 517 shares of the business services provider's stock valued at $49,000 after purchasing an additional 323 shares during the period. Finally, Janiczek Wealth Management LLC raised its position in Exponent by 293.7% in the first quarter. Janiczek Wealth Management LLC now owns 626 shares of the business services provider's stock valued at $52,000 after purchasing an additional 467 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.

About Exponent

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.