Mastech Digital (NYSE:MHH) Stock Price Down 51.4% – What’s Next?

Mastech Digital, Inc. (NYSE:MHH) was down 51.4% during trading on Friday . The stock traded as low as $13.33 and last traded at $6.58. Approximately 14,288 shares changed hands during trading, a decline of 30% from the average daily volume of 20,407 shares. The stock had previously closed at $13.55.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Mastech Digital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st.

Mastech Digital Trading Down 1.2%

The firm has a market capitalization of $77.18 million, a P/E ratio of 22.62, a P/E/G ratio of 0.79 and a beta of 0.78. The company has a 50 day simple moving average of $6.94 and a two-hundred day simple moving average of $8.01.

Institutional Trading of Mastech Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Mastech Digital by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 111,727 shares of the company’s stock worth $1,665,000 after purchasing an additional 2,600 shares during the period. Northern Trust Corp grew its position in shares of Mastech Digital by 74.3% during the 4th quarter. Northern Trust Corp now owns 25,631 shares of the company’s stock worth $382,000 after buying an additional 10,930 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Mastech Digital during the 4th quarter worth $159,000. Millennium Management LLC bought a new position in shares of Mastech Digital during the 4th quarter worth $223,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Mastech Digital during the fourth quarter valued at about $267,000. Hedge funds and other institutional investors own 18.43% of the company’s stock.

About Mastech Digital

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.