Matrix Service (NASDAQ:MTRX) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Matrix Service (NASDAQ:MTRX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.17 and traded as high as $12.35. Matrix Service shares last traded at $12.30, with a volume of 133,088 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MTRX shares. StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. DA Davidson reissued a “buy” rating and set a $18.00 target price on shares of Matrix Service in a research note on Thursday, September 26th.

Matrix Service Stock Performance

The firm has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $11.17. The stock has a market cap of $338.93 million, a P/E ratio of -10.98 and a beta of 1.28.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The company had revenue of $165.58 million for the quarter, compared to the consensus estimate of $183.90 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, equities research analysts predict that Matrix Service will post -0.04 EPS for the current year.

Institutional Trading of Matrix Service

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in Matrix Service in the 3rd quarter valued at about $53,000. Quest Partners LLC acquired a new stake in Matrix Service during the second quarter valued at approximately $83,000. BNP Paribas Financial Markets boosted its holdings in Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after buying an additional 4,860 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Matrix Service during the third quarter worth $108,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Matrix Service during the second quarter valued at $110,000. Institutional investors own 78.38% of the company’s stock.

About Matrix Service

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.