Matrix Service (NASDAQ:MTRX) Sees Large Growth in Short Interest

Matrix Service (NASDAQ:MTRX – Get Rating) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 1,140,000 shares, an increase of 45.4% from the April 15th total of 783,800 shares. Based on an average trading volume of 366,700 shares, the short-interest ratio is presently 3.1 days. Currently, 4.5% of the shares of the stock are sold short.

NASDAQ MTRX traded down $0.29 on Friday, reaching $5.01. 710,722 shares of the company were exchanged, compared to its average volume of 348,637. Matrix Service has a fifty-two week low of $4.92 and a fifty-two week high of $12.78. The business’s fifty day moving average price is $7.49 and its 200 day moving average price is $7.86.

In other news, VP Kevin A. Durkin acquired 7,800 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was acquired at an average price of $6.36 per share, for a total transaction of $49,608.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Matrix Service by 15.9% in the first quarter. BlackRock Inc. now owns 2,423,133 shares of the oil and gas company’s stock valued at $19,917,000 after purchasing an additional 332,650 shares during the period. Bank of New York Mellon Corp raised its position in Matrix Service by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 2,387,827 shares of the oil and gas company’s stock valued at $19,627,000 after purchasing an additional 87,158 shares during the period. Royce & Associates LP raised its holdings in shares of Matrix Service by 9.3% in the 1st quarter. Royce & Associates LP now owns 1,215,333 shares of the oil and gas company’s stock valued at $9,990,000 after buying an additional 103,700 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Matrix Service by 15.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 985,207 shares of the oil and gas company’s stock valued at $7,409,000 after buying an additional 129,860 shares during the period. Finally, Smith Graham & Co. Investment Advisors LP raised its holdings in shares of Matrix Service by 13.0% in the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 891,139 shares of the oil and gas company’s stock valued at $7,325,000 after buying an additional 102,478 shares during the period. Institutional investors own 88.69% of the company’s stock.

Several research firms recently weighed in on MTRX. StockNews.com began coverage on shares of Matrix Service in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Matrix Service from a “hold” rating to a “sell” rating in a research report on Saturday.

Matrix Service Company Profile (Get Rating)

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

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