Short Interest in Matrix Service (NASDAQ:MTRX) Decreases By 13.9%

Matrix Service (NASDAQ:MTRX) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 354,700 shares, a decline of 13.9% from the February 28th total of 411,900 shares. Based on an average daily volume of 214,300 shares, the short-interest ratio is currently 1.7 days. Approximately 1.4% of the shares of the stock are sold short.

Matrix Service Price Performance

NASDAQ MTRX traded down $1.30 on Thursday, reaching $11.29. The company had a trading volume of 127,999 shares, compared to its average volume of 205,966. The firm has a market cap of $311.68 million, a price-to-earnings ratio of -9.25 and a beta of 1.11. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $15.75. The business has a 50 day moving average of $13.41 and a two-hundred day moving average of $12.69.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MTRX. Tower Research Capital LLC TRC grew its stake in Matrix Service by 180.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company’s stock valued at $32,000 after acquiring an additional 1,746 shares during the period. R Squared Ltd bought a new stake in Matrix Service during the 4th quarter valued at $45,000. Quarry LP acquired a new position in Matrix Service during the third quarter worth $53,000. Legal & General Group Plc lifted its stake in shares of Matrix Service by 29.6% in the fourth quarter. Legal & General Group Plc now owns 8,236 shares of the company’s stock valued at $99,000 after buying an additional 1,881 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Matrix Service during the fourth quarter valued at about $99,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTRX. DA Davidson lifted their price target on Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. StockNews.com downgraded Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th.

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.