Matrix Service (NASDAQ:MTRX) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Matrix Service (NASDAQ:MTRX) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.47 and traded as high as $15.20. Matrix Service shares last traded at $15.05, with a volume of 177,634 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th.

Matrix Service Price Performance

The business’s fifty day moving average price is $13.05 and its two-hundred day moving average price is $11.49.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. The firm had revenue of $165.58 million for the quarter, compared to analysts’ expectations of $183.90 million. During the same quarter in the previous year, the company posted ($0.21) EPS. On average, sell-side analysts predict that Matrix Service will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Matrix Service

Several institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Matrix Service in the 4th quarter worth $45,000. Quarry LP acquired a new position in Matrix Service in the 3rd quarter worth $53,000. BNP Paribas Financial Markets grew its stake in shares of Matrix Service by 112.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after acquiring an additional 4,860 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Matrix Service during the 3rd quarter worth about $108,000. Finally, Net Worth Advisory Group bought a new position in Matrix Service in the third quarter valued at about $125,000. 78.38% of the stock is currently owned by 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.