Mastech Digital (NYSE:MHH) Trading 6% Higher – Time to Buy?

Mastech Digital, Inc. (NYSE:MHH) shot up 6% during trading on Tuesday . The company traded as high as $14.32 and last traded at $14.52. 15,491 shares were traded during mid-day trading, a decline of 43% from the average session volume of 27,016 shares. The stock had previously closed at $13.70.

Wall Street Analysts Forecast Growth

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

Mastech Digital Stock Performance

The business has a fifty day simple moving average of $14.59 and a 200 day simple moving average of $13.24. The stock has a market capitalization of $167.45 million, a price-to-earnings ratio of -75.26, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Mastech Digital during the 3rd quarter valued at $29,000. Barclays PLC lifted its position in shares of Mastech Digital by 86.9% during the 3rd quarter. Barclays PLC now owns 6,544 shares of the company’s stock valued at $65,000 after acquiring an additional 3,042 shares during the period. Virtu Financial LLC bought a new stake in shares of Mastech Digital during the 3rd quarter valued at $101,000. HighTower Advisors LLC lifted its position 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 acquiring an additional 6,809 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Mastech Digital by 15.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,753 shares of the company’s stock valued at $478,000 after acquiring an additional 6,544 shares during the period. 18.43% of the stock is owned by institutional investors and hedge funds.

About Mastech Digital

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.