Matrix Service (NASDAQ:MTRX) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Matrix Service (NASDAQ:MTRX)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.07 and traded as high as $14.20. Matrix Service shares last traded at $13.08, with a volume of 126,216 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MTRX shares. StockNews.com cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. DA Davidson upped their price objective on Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Matrix Service Trading Down 6.8 %

The business has a 50 day moving average price of $13.56 and a 200 day moving average price of $12.12. The company has a market capitalization of $361.10 million, a P/E ratio of -10.72 and a beta of 1.28.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. On average, analysts forecast that Matrix Service will post -0.26 EPS for the current fiscal year.

Institutional Trading of Matrix Service

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Matrix Service by 2.7% in the fourth quarter. Rhumbline Advisers now owns 39,725 shares of the company’s stock valued at $475,000 after buying an additional 1,028 shares during the period. Verition Fund Management LLC boosted its stake in Matrix Service by 5.8% in the 3rd quarter. Verition Fund Management LLC now owns 22,639 shares of the company’s stock worth $261,000 after purchasing an additional 1,239 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Matrix Service by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,465 shares of the company’s stock worth $485,000 after purchasing an additional 1,388 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Matrix Service by 2.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock worth $651,000 after purchasing an additional 1,573 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Matrix Service by 18.4% in the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after purchasing an additional 1,731 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.