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

Matrix Service Company (NASDAQ:MTRX)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued 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 given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Matrix Service Stock Down 1.1%

The firm has a market cap of $341.92 million, a PE ratio of -22.93, a price-to-earnings-growth ratio of 1.00 and a beta of 0.98. The business has a 50-day moving average price of $13.04 and a two-hundred day moving average price of $12.40.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. Matrix Service had a negative return on equity of 3.60% and a negative net margin of 1.77%.The firm had revenue of $206.71 million during the quarter, compared to analyst estimates of $231.52 million. On average, equities research analysts predict that Matrix Service Company will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John R. Hewitt sold 36,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was 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 of the company’s stock, valued at approximately $7,272,575. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Matrix Service in the 3rd quarter valued at approximately $28,000. BNP Paribas Financial Markets lifted its position in shares of Matrix Service by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after purchasing an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after purchasing an additional 1,893 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Matrix Service during the third quarter worth $67,000. Finally, Daytona Street Capital LLC purchased a new position in Matrix Service in the fourth quarter valued at $78,000. Hedge funds and other institutional investors 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.