Matrix Service (NASDAQ:MTRX) Shares Cross Above Two Hundred Day Moving Average of $7.79

Shares of Matrix Service (NASDAQ:MTRX) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.79 and traded as high as $11.39. Matrix Service shares last traded at $10.90, with a volume of 228,759 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MTRX. StockNews.com lowered shares of Matrix Service from a “buy” rating to a “hold” rating in a report on Friday. TheStreet upgraded shares of Matrix Service from a “d+” rating to a “c-” rating in a research note on Wednesday, September 6th. Finally, DA Davidson upped their price objective on shares of Matrix Service from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, September 13th.

Matrix Service Trading Down 5.6 %

The stock has a market cap of $296.59 million, a price-to-earnings ratio of -5.99 and a beta of 1.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.38 and a current ratio of 1.43. The company’s 50 day simple moving average is $10.86 and its two-hundred day simple moving average is $7.79.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Monday, September 11th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.18. Matrix Service had a negative net margin of 6.25% and a negative return on equity of 17.48%. The firm had revenue of $205.85 million for the quarter. Research analysts expect that Matrix Service will post -0.05 EPS for the current fiscal year.

Insider Activity

In other news, CEO John R. Hewitt sold 7,500 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $12.00, for a total transaction of $90,000.00. Following the transaction, the chief executive officer now owns 487,891 shares in the company, valued at approximately $5,854,692. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ExodusPoint Capital Management LP acquired a new position in Matrix Service in the 2nd quarter valued at $59,000. Brandywine Global Investment Management LLC acquired a new position in Matrix Service in the 1st quarter valued at $63,000. Tower Research Capital LLC TRC grew its stake in Matrix Service by 792.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 13,154 shares of the company’s stock valued at $71,000 after buying an additional 11,680 shares during the last quarter. Terril Brothers Inc. grew its stake in Matrix Service by 41.7% in the 1st quarter. Terril Brothers Inc. now owns 14,165 shares of the company’s stock valued at $76,000 after buying an additional 4,165 shares during the last quarter. Finally, Barclays PLC grew its stake in Matrix Service by 55.0% in the 4th quarter. Barclays PLC now owns 14,961 shares of the company’s stock valued at $93,000 after buying an additional 5,307 shares during the last quarter. Institutional investors own 76.75% of the company’s stock.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.