Matrix Service (NASDAQ:MTRX) Shares Cross Above 200 Day Moving Average – What’s Next?

Matrix Service Company (NASDAQ:MTRX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.37 and traded as high as $13.02. Matrix Service shares last traded at $12.45, with a volume of 172,131 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Matrix Service Price Performance

The business has a 50 day simple moving average of $13.14 and a 200 day simple moving average of $12.37. The company has a market cap of $350.22 million, a price-to-earnings ratio of -23.49, a price-to-earnings-growth ratio of 1.04 and a beta of 0.98.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. Matrix Service had a negative return on equity of 3.60% and a negative net margin of 1.77%.The company had revenue of $206.71 million during the quarter, compared to analyst estimates of $231.52 million. As a group, sell-side analysts anticipate that Matrix Service Company will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Matrix Service news, CEO John R. Hewitt sold 36,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $12.50, for a total value of $450,000.00. Following the completion of the transaction, the chief executive officer directly owned 581,806 shares of the company’s stock, valued at approximately $7,272,575. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in Matrix Service during the 3rd quarter worth $28,000. BNP Paribas Financial Markets raised its position in shares of Matrix Service by 68.9% during the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after acquiring an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after acquiring an additional 1,893 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Matrix Service during the third quarter valued at $67,000. Finally, Daytona Street Capital LLC acquired a new position in shares of Matrix Service during the fourth quarter valued at $78,000. Institutional investors own 78.38% of the company’s stock.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.