Mastech Digital (NYSE:MHH) Trading 3.3% Higher – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Mastech Digital in a report on Wednesday, October 2nd. They set a “buy” rating for the company.

Mastech Digital Stock Performance

The stock has a 50-day moving average price of $9.73. The stock has a market cap of $111.69 million, a PE ratio of -14.77, a P/E/G ratio of 1.24 and a beta of 0.47.

Mastech Digital (NYSE:MHH) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Mastech Digital had a negative net margin of 2.10% and a positive return on equity of 4.53%. The company had revenue of $49.53 million during the quarter, compared to analyst estimates of $48.10 million. Sell-side analysts expect that Mastech Digital, Inc. will post 0.39 EPS for the current fiscal year.

Institutional Trading of Mastech Digital

An institutional investor recently raised its position in Mastech Digital stock. Capital Management Corp VA increased its stake in shares of Mastech Digital, Inc. (NYSE:MHH) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 866,370 shares of the company’s stock after purchasing an additional 4,180 shares during the quarter. Capital Management Corp VA owned approximately 7.46% of Mastech Digital worth $7,797,000 as of its most recent filing with the SEC. Institutional investors own 18.43% of the company’s stock.

About Mastech Digital

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.