Mistras Group (NYSE:MG) Stock Crosses Above 200 Day Moving Average – What’s Next?

Mistras Group Inc (NYSE:MG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.23 and traded as high as $11.95. Mistras Group shares last traded at $11.8040, with a volume of 132,816 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on MG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mistras Group in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Mistras Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, UBS Group set a $16.00 price objective on shares of Mistras Group in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

Mistras Group Trading Up 0.9%

The firm has a market cap of $372.42 million, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.90 and a beta of 1.01. The company’s 50-day moving average price is $10.70 and its 200-day moving average price is $9.23. The company has a quick ratio of 1.77, a current ratio of 1.89 and a debt-to-equity ratio of 0.89.

Mistras Group (NYSE:MG) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.20. Mistras Group had a net margin of 2.55% and a return on equity of 13.10%. The firm had revenue of $195.55 million for the quarter, compared to analyst estimates of $189.94 million. Equities analysts expect that Mistras Group Inc will post 0.71 EPS for the current fiscal year.

Insider Buying and Selling at Mistras Group

In other news, EVP Eileen Mary Coggins purchased 15,000 shares of the stock in a transaction dated Monday, September 15th. The shares were purchased at an average cost of $9.55 per share, with a total value of $143,250.00. Following the completion of the purchase, the executive vice president directly owned 15,000 shares of the company’s stock, valued at approximately $143,250. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Mistras Group by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,633,327 shares of the technology company’s stock worth $16,072,000 after purchasing an additional 10,186 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Mistras Group by 5.6% in the third quarter. Royce & Associates LP now owns 1,342,747 shares of the technology company’s stock worth $13,213,000 after buying an additional 71,490 shares in the last quarter. Acuitas Investments LLC lifted its stake in shares of Mistras Group by 51.7% in the third quarter. Acuitas Investments LLC now owns 643,483 shares of the technology company’s stock worth $6,332,000 after buying an additional 219,421 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Mistras Group during the third quarter worth about $4,650,000. Finally, Bridgeway Capital Management LLC grew its stake in Mistras Group by 2.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 418,737 shares of the technology company’s stock valued at $3,354,000 after acquiring an additional 11,599 shares in the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.