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

Matrix Service (NASDAQ:MTRX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.47 and traded as high as $15.20. Matrix Service shares last traded at $15.05, with a volume of 177,634 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th.

Matrix Service Stock Performance

The company has a fifty day simple moving average of $13.05 and a 200 day simple moving average of $11.47. The stock has a market capitalization of $414.78 million, a price-to-earnings ratio of -13.44 and a beta of 1.28.

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

Institutional Trading of Matrix Service

A number of institutional investors have recently bought and sold shares of MTRX. Barclays PLC increased its stake in shares of Matrix Service by 90.8% in the 3rd quarter. Barclays PLC now owns 53,435 shares of the company’s stock valued at $616,000 after acquiring an additional 25,434 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Matrix Service by 112.9% in the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after purchasing an additional 4,860 shares during the period. State Street Corp increased its stake in Matrix Service by 17.0% in the third quarter. State Street Corp now owns 384,173 shares of the company’s stock valued at $4,430,000 after purchasing an additional 55,691 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Matrix Service by 43.9% during the third quarter. Jane Street Group LLC now owns 50,640 shares of the company’s stock valued at $584,000 after purchasing an additional 15,444 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Matrix Service by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock worth $6,898,000 after purchasing an additional 4,709 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Matrix Service Company Profile

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.