Matrix Service Company (NASDAQ:MTRX) was the recipient of a significant drop in short interest during the month of September. As of September 29th, there was short interest totalling 1,126,522 shares, a drop of 38.1% from the September 15th total of 1,820,217 shares. Based on an average trading volume of 425,863 shares, the days-to-cover ratio is currently 2.6 days. Approximately 4.4% of the company’s shares are short sold.

Institutional investors and hedge funds have recently bought and sold shares of the company. Mason Street Advisors LLC increased its position in shares of Matrix Service by 7.3% during the first quarter. Mason Street Advisors LLC now owns 6,219 shares of the oil and gas company’s stock worth $103,000 after buying an additional 421 shares during the period. Envestnet Asset Management Inc. boosted its stake in Matrix Service by 4.2% during the first quarter. Envestnet Asset Management Inc. now owns 7,793 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 315 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Matrix Service during the first quarter worth $159,000. Capstone Asset Management Co. boosted its stake in Matrix Service by 1.7% during the second quarter. Capstone Asset Management Co. now owns 13,623 shares of the oil and gas company’s stock worth $127,000 after acquiring an additional 230 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Matrix Service by 1.5% during the first quarter. Arizona State Retirement System now owns 13,848 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 85.17% of the company’s stock.

A number of equities analysts have issued reports on the stock. TheStreet raised shares of Matrix Service from a “d+” rating to a “c-” rating in a research note on Monday, October 9th. Zacks Investment Research cut shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 14th. ValuEngine cut shares of Matrix Service from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. KeyCorp reaffirmed a “hold” rating on shares of Matrix Service in a research note on Monday, August 28th. Finally, BidaskClub cut shares of Matrix Service from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold”.

Matrix Service (NASDAQ:MTRX) opened at 13.825 on Friday. Matrix Service has a 12 month low of $7.80 and a 12 month high of $23.45. The stock’s 50 day moving average is $13.91 and its 200-day moving average is $11.67. The company’s market capitalization is $369.43 million.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, September 6th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. The firm had revenue of $291.84 million for the quarter, compared to analyst estimates of $281.82 million. During the same quarter last year, the company earned $0.34 earnings per share. The company’s quarterly revenue was down 18.9% compared to the same quarter last year. On average, analysts expect that Matrix Service will post $0.60 EPS for the current year.

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Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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