Matrix Service (NASDAQ:MTRX) Short Interest Down 13.2% in February

Matrix Service (NASDAQ:MTRX) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 411,900 shares, a decline of 13.2% from the February 13th total of 474,600 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 193,600 shares, the days-to-cover ratio is currently 2.1 days.

Matrix Service Price Performance

Matrix Service stock opened at $13.09 on Friday. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75. The firm’s 50 day moving average price is $13.64 and its 200-day moving average price is $12.51. The stock has a market cap of $361.38 million, a P/E ratio of -10.73 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last announced its quarterly 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 net margin of 4.76% and a negative return on equity of 20.81%. As a group, equities analysts expect that Matrix Service will post -0.26 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MTRX shares. StockNews.com lowered Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. DA Davidson increased their target price on Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th.

Hedge Funds Weigh In On Matrix Service

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTRX. Victory Capital Management Inc. raised its stake in Matrix Service by 4.3% during the third quarter. Victory Capital Management Inc. now owns 72,587 shares of the company’s stock valued at $837,000 after purchasing an additional 2,987 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Matrix Service by 44.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,302 shares of the company’s stock worth $1,917,000 after buying an additional 51,433 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Matrix Service by 2.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after buying an additional 1,573 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Matrix Service by 112.9% in 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. Finally, MetLife Investment Management LLC grew its position in Matrix Service by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,519 shares of the company’s stock worth $179,000 after acquiring an additional 8,744 shares in the last quarter. 78.38% of the stock is owned by 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.