Short Interest in Matrix Service Company (NASDAQ:MTRX) Grows By 20.5%

Matrix Service Company (NASDAQ:MTRX) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 587,675 shares, a growth of 20.5% from the December 15th total of 487,756 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average trading volume of 231,026 shares, the short-interest ratio is presently 2.5 days. Based on an average trading volume of 231,026 shares, the short-interest ratio is presently 2.5 days. Currently, 2.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. DA Davidson reissued a “buy” rating and issued a $17.00 target price on shares of Matrix Service in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Insider Buying and Selling at Matrix Service

In related news, insider Shawn P. Payne sold 5,231 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $11.42, for a total value of $59,738.02. Following the transaction, the insider directly owned 102,179 shares of the company’s stock, valued at approximately $1,166,884.18. This represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 16,500 shares of company stock worth $198,000 over the last ninety days. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTRX. AQR Capital Management LLC boosted its position in shares of Matrix Service by 601.5% in the first quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock worth $3,627,000 after purchasing an additional 250,206 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Matrix Service by 53.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 175,736 shares of the company’s stock worth $2,184,000 after buying an additional 61,246 shares during the period. Jane Street Group LLC increased its stake in Matrix Service by 89.8% in the 1st quarter. Jane Street Group LLC now owns 34,542 shares of the company’s stock worth $429,000 after buying an additional 16,343 shares in the last quarter. Strs Ohio bought a new stake in Matrix Service during the first quarter valued at about $493,000. Finally, Voya Investment Management LLC lifted its position in shares of Matrix Service by 69.1% in the first quarter. Voya Investment Management LLC now owns 35,667 shares of the company’s stock valued at $443,000 after acquiring an additional 14,578 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of Matrix Service stock traded up $0.15 on Monday, hitting $13.71. 205,544 shares of the company’s stock were exchanged, compared to its average volume of 212,703. Matrix Service has a 1 year low of $9.33 and a 1 year high of $16.10. The company has a 50-day simple moving average of $11.99 and a 200-day simple moving average of $13.31. The stock has a market capitalization of $385.53 million, a PE ratio of -16.13, a PEG ratio of 2.34 and a beta of 0.93.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Matrix Service had a negative return on equity of 11.68% and a negative net margin of 2.93%.The company had revenue of $211.88 million for the quarter, compared to analysts’ expectations of $206.66 million. On average, analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

About Matrix Service

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.