Matrix Service (NASDAQ:MTRX) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Matrix Service Company (NASDAQ:MTRX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.39 and traded as high as $12.61. Matrix Service shares last traded at $12.47, with a volume of 152,333 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.50.

Matrix Service Stock Performance

The business has a fifty day moving average of $13.04 and a 200-day moving average of $12.39. The company has a market capitalization of $350.78 million, a P/E ratio of -23.53, a PEG ratio of 1.00 and a beta of 0.98.

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

Insider Buying and Selling at Matrix Service

In other news, CEO John R. Hewitt sold 36,000 shares of Matrix Service stock in a transaction dated 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 transaction, the chief executive officer directly owned 581,806 shares in the company, valued at $7,272,575. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hudson Bay Capital Management LP bought a new stake in Matrix Service during the 3rd quarter worth approximately $1,308,000. Azarias Capital Management L.P. lifted its holdings in shares of Matrix Service by 15.1% in the fourth quarter. Azarias Capital Management L.P. now owns 730,767 shares of the company’s stock valued at $8,550,000 after purchasing an additional 95,924 shares in the last quarter. Country Trust Bank purchased a new position in shares of Matrix Service during the fourth quarter valued at approximately $1,552,000. JPMorgan Chase & Co. boosted its position in shares of Matrix Service by 44.1% during the third quarter. JPMorgan Chase & Co. now owns 306,848 shares of the company’s stock valued at $4,014,000 after buying an additional 93,927 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. bought a new stake in Matrix Service during the fourth quarter worth $1,058,000. Institutional investors and hedge funds 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.