Mistras Group (NYSE:MG) Shares Gap Down – Time to Sell?

Mistras Group Inc (NYSE:MG)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $21.24, but opened at $20.47. Mistras Group shares last traded at $20.5190, with a volume of 119,500 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen downgraded Mistras Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Mistras Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Mistras Group Trading Down 4.0%

The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 1.71. The firm has a market capitalization of $649.20 million, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The firm has a 50 day moving average price of $20.12 and a two-hundred day moving average price of $17.13.

Mistras Group (NYSE:MG) last posted its quarterly earnings data on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. The firm had revenue of $193.13 million for the quarter, compared to the consensus estimate of $189.66 million. On average, equities research analysts expect that Mistras Group Inc will post 1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Mistras Group

Several hedge funds have recently bought and sold shares of MG. Bank of New York Mellon Corp acquired a new stake in Mistras Group during the 2nd quarter worth about $1,384,000. Manatuck Hill Partners LLC acquired a new position in shares of Mistras Group in the 2nd quarter valued at about $1,256,000. Equitable Holdings Inc. acquired a new position in shares of Mistras Group in the 2nd quarter valued at about $1,510,000. Sei Investments Co. increased its holdings in shares of Mistras Group by 249.4% in the 1st quarter. Sei Investments Co. now owns 204,840 shares of the technology company’s stock valued at $3,028,000 after purchasing an additional 146,222 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Mistras Group in the second quarter worth approximately $3,939,000. 74.92% of the stock is owned by hedge funds and other institutional investors.

Mistras Group Company Profile

Mistras Group, Inc provides asset protection and industrial inspection services designed to help companies monitor the condition, safety and performance of critical infrastructure. The company combines nondestructive testing, inspection, engineering, monitoring and data-management capabilities to identify defects and support maintenance decisions without interrupting the operation of industrial assets.

Its services and technologies include nondestructive testing and examination, mechanical integrity programs, acoustic-emission testing, structural health monitoring, rope access, remote visual inspection and other specialized inspection techniques.