Matrix Service (NASDAQ:MTRX) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Matrix Service (NASDAQ:MTRX)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.17 and traded as high as $12.35. Matrix Service shares last traded at $12.30, with a volume of 133,088 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MTRX shares. DA Davidson reissued a “buy” rating and issued a $18.00 price target on shares of Matrix Service in a research note on Thursday, September 26th. StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th.

Matrix Service Price Performance

The firm has a market cap of $370.06 million, a price-to-earnings ratio of -11.99 and a beta of 1.28. The business has a fifty day simple moving average of $12.76 and a 200 day simple moving average of $11.21.

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

Institutional Investors Weigh In On Matrix Service

A number of large investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in Matrix Service during the third quarter worth approximately $53,000. Quest Partners LLC purchased a new position in shares of Matrix Service during the 2nd quarter worth $83,000. BNP Paribas Financial Markets boosted its position 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 valued at $106,000 after acquiring an additional 4,860 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Matrix Service in the third quarter valued at about $108,000. Finally, Net Worth Advisory Group acquired a new stake in Matrix Service during the third quarter worth about $125,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

About Matrix Service

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.