Mistras Group (NYSE:MG) Share Price Crosses Above 200 Day Moving Average of $7.45

Shares of Mistras Group, Inc. (NYSE:MG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.45 and traded as high as $9.15. Mistras Group shares last traded at $8.92, with a volume of 67,129 shares traded.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded Mistras Group from a “d+” rating to a “c-” rating in a research report on Tuesday, February 27th.

Mistras Group Trading Down 2.0 %

The business has a fifty day simple moving average of $8.96 and a 200-day simple moving average of $7.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.42 and a current ratio of 1.55. The firm has a market cap of $273.16 million, a price-to-earnings ratio of -15.37 and a beta of 1.65.

Mistras Group (NYSE:MG) last issued its earnings results on Wednesday, March 6th. The technology company reported $0.10 earnings per share (EPS) for the quarter. Mistras Group had a positive return on equity of 3.32% and a negative net margin of 2.48%. The business had revenue of $182.07 million during the quarter.

Insiders Place Their Bets

In other news, EVP Michael J. Lange sold 5,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $8.53, for a total value of $42,650.00. Following the completion of the sale, the executive vice president now owns 341,838 shares of the company’s stock, valued at $2,915,878.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Mistras Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Mistras Group by 199.8% during the second quarter. BlackRock Inc. now owns 1,388,440 shares of the technology company’s stock worth $10,719,000 after purchasing an additional 925,318 shares during the period. Geode Capital Management LLC grew its stake in Mistras Group by 138.9% during the second quarter. Geode Capital Management LLC now owns 385,576 shares of the technology company’s stock worth $2,977,000 after purchasing an additional 224,155 shares during the period. State Street Corp grew its stake in Mistras Group by 343.7% during the second quarter. State Street Corp now owns 254,166 shares of the technology company’s stock worth $1,962,000 after purchasing an additional 196,886 shares during the period. Millennium Management LLC grew its stake in Mistras Group by 270.7% during the second quarter. Millennium Management LLC now owns 220,169 shares of the technology company’s stock worth $1,308,000 after purchasing an additional 160,784 shares during the period. Finally, Northern Trust Corp grew its stake in Mistras Group by 339.6% during the second quarter. Northern Trust Corp now owns 165,649 shares of the technology company’s stock worth $1,279,000 after purchasing an additional 127,966 shares during the period. Institutional investors and hedge funds own 74.92% of the company’s stock.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.