Mastech Digital (NYSE:MHH) Stock Price Up 3.3% – Still a Buy?

Shares of Mastech Digital, Inc. (NYSE:MHH) shot up 3.3% on Tuesday . The stock traded as high as $9.59 and last traded at $9.50. 17,497 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 16,286 shares. The stock had previously closed at $9.20.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Mastech Digital in a research note on Wednesday, October 2nd. They issued a “buy” rating on the stock.

Mastech Digital Price Performance

The firm has a market cap of $111.69 million, a PE ratio of -14.77, a price-to-earnings-growth ratio of 1.24 and a beta of 0.47. The company’s fifty day moving average price is $9.73.

Mastech Digital (NYSE:MHH) last announced its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. The company had revenue of $49.53 million for the quarter, compared to analysts’ expectations of $48.10 million. Mastech Digital had a positive return on equity of 4.53% and a negative net margin of 2.10%. On average, sell-side analysts anticipate that Mastech Digital, Inc. will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Mastech Digital

A hedge fund recently raised its stake in Mastech Digital stock. Dimensional Fund Advisors LP increased its holdings in shares of Mastech Digital, Inc. (NYSE:MHH) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 227,350 shares of the company’s stock after acquiring an additional 5,236 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.95% of Mastech Digital worth $1,705,000 as of its most recent SEC filing. 18.43% of the stock is currently owned by institutional investors.

Mastech Digital Company Profile

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.