Matrix Service (NASDAQ:MTRX) Share Price Passes Above 200 Day Moving Average of $11.18

Matrix Service (NASDAQ:MTRX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.18 and traded as high as $11.71. Matrix Service shares last traded at $11.46, with a volume of 160,352 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Matrix Service from a “hold” rating to a “buy” rating in a report on Saturday, February 17th.

Matrix Service Stock Down 1.3 %

The business has a fifty day simple moving average of $12.51 and a 200-day simple moving average of $11.18. The firm has a market cap of $312.86 million, a P/E ratio of -16.37 and a beta of 1.23.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $175.04 million during the quarter, compared to the consensus estimate of $195.27 million. Matrix Service had a negative return on equity of 12.50% and a negative net margin of 2.49%. On average, sell-side analysts anticipate that Matrix Service will post -0.35 EPS for the current fiscal year.

Insider Transactions at Matrix Service

In other news, VP Kevin A. Durkin sold 3,900 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $13.14, for a total value of $51,246.00. Following the sale, the vice president now directly owns 72,231 shares of the company’s stock, valued at $949,115.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO John R. Hewitt sold 10,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $13.25, for a total value of $132,500.00. Following the sale, the chief executive officer now directly owns 477,891 shares of the company’s stock, valued at $6,332,055.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Kevin A. Durkin sold 3,900 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $13.14, for a total value of $51,246.00. Following the completion of the sale, the vice president now directly owns 72,231 shares in the company, valued at $949,115.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,800 shares of company stock valued at $233,354. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Matrix Service by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 1,439,655 shares of the company’s stock worth $16,988,000 after acquiring an additional 21,217 shares during the last quarter. Azarias Capital Management L.P. boosted its position in shares of Matrix Service by 25.8% during the fourth quarter. Azarias Capital Management L.P. now owns 1,261,761 shares of the company’s stock valued at $12,340,000 after buying an additional 258,390 shares during the last quarter. Gendell Jeffrey L boosted its position in shares of Matrix Service by 18.6% during the third quarter. Gendell Jeffrey L now owns 825,000 shares of the company’s stock valued at $9,735,000 after buying an additional 129,441 shares during the last quarter. Boston Partners boosted its position in shares of Matrix Service by 3.4% during the third quarter. Boston Partners now owns 468,044 shares of the company’s stock valued at $5,523,000 after buying an additional 15,324 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Matrix Service by 21.6% during the third quarter. Acadian Asset Management LLC now owns 361,988 shares of the company’s stock valued at $4,270,000 after buying an additional 64,276 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

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.