Matrix Service (NASDAQ:MTRX) Stock Passes Above 200-Day Moving Average – Should You Sell?

Matrix Service (NASDAQ:MTRX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Matrix Service Stock Up 2.2 %

The firm has a market cap of $338.93 million, a price-to-earnings ratio of -10.98 and a beta of 1.28. The company has a 50 day moving average of $12.71 and a 200 day moving average of $11.17.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The business had revenue of $165.58 million during the quarter, compared to analyst estimates of $183.90 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. During the same period in the previous year, the company earned ($0.21) earnings per share. As a group, equities research analysts expect that Matrix Service will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Matrix Service

Large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Matrix Service during the third quarter worth $53,000. Quest Partners LLC acquired a new stake in Matrix Service during the second quarter worth about $83,000. BNP Paribas Financial Markets lifted its holdings in Matrix Service by 112.9% in the third 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 during the last quarter. SG Americas Securities LLC acquired a new position in Matrix Service in the third quarter valued at approximately $108,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Matrix Service during the second quarter valued at approximately $110,000. 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.