Mastech Digital (NYSE:MHH) Trading Down 27.7% – Here’s What Happened

Shares of Mastech Digital, Inc. (NYSE:MHH) fell 27.7% during trading on Tuesday . The company traded as low as $13.33 and last traded at $9.79. 14,288 shares traded hands during trading, a decline of 19% from the average session volume of 17,644 shares. The stock had previously closed at $13.55.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Mastech Digital from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd.

Mastech Digital Trading Up 1.6 %

The firm’s 50-day simple moving average is $10.47 and its two-hundred day simple moving average is $12.86. The stock has a market capitalization of $113.91 million, a PE ratio of 33.45, a PEG ratio of 0.79 and a beta of 0.77.

Mastech Digital (NYSE:MHH) last issued its earnings results on Wednesday, February 19th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Mastech Digital had a return on equity of 8.20% and a net margin of 1.71%. During the same period in the previous year, the firm earned $0.11 earnings per share. As a group, research analysts expect that Mastech Digital, Inc. will post 0.84 earnings per share for the current year.

Hedge Funds Weigh In On Mastech Digital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Mastech Digital by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 238,705 shares of the company’s stock worth $3,557,000 after purchasing an additional 3,922 shares during the period. Renaissance Technologies LLC lifted its position in Mastech Digital by 2.4% in the 4th quarter. Renaissance Technologies LLC now owns 111,727 shares of the company’s stock worth $1,665,000 after buying an additional 2,600 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mastech Digital by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 51,384 shares of the company’s stock valued at $766,000 after buying an additional 3,631 shares during the period. HighTower Advisors LLC boosted its stake in shares of Mastech Digital by 19.5% during the 3rd quarter. HighTower Advisors LLC now owns 41,815 shares of the company’s stock valued at $417,000 after buying an additional 6,809 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Mastech Digital by 74.3% during the 4th quarter. Northern Trust Corp now owns 25,631 shares of the company’s stock valued at $382,000 after acquiring an additional 10,930 shares in the last quarter. Hedge funds and other institutional investors own 18.43% of the company’s stock.

Mastech Digital Company Profile

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.