Matrix Service (NASDAQ:MTRX) Shares Cross Above 200 Day Moving Average – Should You Sell?

Matrix Service Company (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 $12.34 and traded as high as $13.89. Matrix Service shares last traded at $13.71, with a volume of 263,354 shares changing hands.

Wall Street Analysts Forecast Growth

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

Matrix Service Price Performance

The company has a 50-day moving average price of $13.06 and a 200 day moving average price of $12.34. The firm has a market capitalization of $385.66 million, a PE ratio of -25.87, a P/E/G ratio of 3.08 and a beta of 0.99.

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

Insiders Place Their Bets

In other Matrix Service news, CEO John R. Hewitt sold 36,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $12.50, for a total transaction of $450,000.00. Following the completion of the sale, the chief executive officer directly owned 581,806 shares of the company’s stock, valued at $7,272,575. This trade represents a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Matrix Service

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Matrix Service during the third quarter worth $28,000. BNP Paribas Financial Markets increased its holdings in Matrix Service by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after acquiring an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Matrix Service by 133.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after purchasing an additional 1,893 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Matrix Service in the 3rd quarter worth $67,000. Finally, Daytona Street Capital LLC bought a new position in shares of Matrix Service during the 4th quarter valued at about $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.