Matrix Service (NASDAQ:MTRX) Short Interest Update

Matrix Service (NASDAQ:MTRX) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 373,500 shares, a decrease of 27.4% from the December 15th total of 514,800 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average trading volume of 123,800 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MTRX shares. StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a research note on Thursday, September 26th.

Matrix Service Stock Up 4.0 %

NASDAQ:MTRX traded up $0.52 on Wednesday, reaching $13.43. 173,101 shares of the company’s stock were exchanged, compared to its average volume of 133,989. The firm has a market capitalization of $370.06 million, a price-to-earnings ratio of -11.99 and a beta of 1.28. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90. The business has a fifty day moving average of $12.76 and a 200-day moving average of $11.21.

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

Institutional Trading of Matrix Service

Hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in Matrix Service during the 3rd quarter worth $53,000. Quest Partners LLC acquired a new position in shares of Matrix Service during the second quarter worth about $83,000. BNP Paribas Financial Markets increased its stake in shares of Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after buying an additional 4,860 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Matrix Service during the third quarter worth approximately $108,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Matrix Service in the second quarter valued at approximately $110,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

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.