Mastech Digital (NYSE:MHH) Shares Up 1.8% – Here’s Why

Mastech Digital, Inc. (NYSE:MHH) shares shot up 1.8% during trading on Thursday . The stock traded as high as $7.01 and last traded at $6.93. 21,895 shares traded hands during trading, an increase of 19% from the average session volume of 18,368 shares. The stock had previously closed at $6.81.

Mastech Digital Stock Up 1.8%

The stock has a fifty day moving average price of $7.22 and a 200-day moving average price of $7.36. The firm has a market cap of $81.06 million, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.82.

Institutional Investors Weigh In On Mastech Digital

A number of hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in Mastech Digital by 17.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 16,500 shares of the company’s stock worth $118,000 after purchasing an additional 2,500 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Mastech Digital by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 170,125 shares of the company’s stock valued at $1,297,000 after buying an additional 3,357 shares during the period. Cetera Investment Advisers boosted its stake in shares of Mastech Digital by 18.8% in the second quarter. Cetera Investment Advisers now owns 25,107 shares of the company’s stock valued at $180,000 after buying an additional 3,975 shares in the last quarter. James Investment Research Inc. acquired a new position in Mastech Digital during the second quarter worth $87,000. Finally, NewEdge Advisors LLC purchased a new position in Mastech Digital in the first quarter worth $148,000. Institutional investors and hedge funds own 18.43% of the company’s stock.

About Mastech Digital

Mastech Digital (NYSE: MHH) is a technology services and digital transformation company that provides end-to-end solutions to help organizations modernize their operations. Headquartered in Pittsburgh, Pennsylvania, the company offers a combination of IT staffing and project-based delivery, enabling clients to accelerate cloud adoption, data analytics initiatives, and digital product development. Its blended service model supports enterprises looking to scale technology teams and implement complex digital strategies.

The company’s service portfolio includes IT staffing and recruitment, digital transformation consulting, and specialized digital solutions such as data management, analytics, artificial intelligence, and robotic process automation.