Matrix Service (NASDAQ:MTRX) Rating Increased to Buy at StockNews.com

Matrix Service (NASDAQ:MTRX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, DA Davidson restated a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a report on Tuesday.

Matrix Service Stock Up 0.7 %

MTRX stock opened at $10.61 on Tuesday. Matrix Service has a 52-week low of $8.26 and a 52-week high of $13.90. The stock has a market cap of $289.75 million, a price-to-earnings ratio of -13.96, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The business has a fifty day moving average of $9.66 and a two-hundred day moving average of $10.98.

Institutional Trading of Matrix Service

Several institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in shares of Matrix Service during the second quarter worth $83,000. The Manufacturers Life Insurance Company purchased a new position in Matrix Service during the 2nd quarter valued at about $110,000. Dynamic Technology Lab Private Ltd acquired a new position in Matrix Service in the 4th quarter valued at about $126,000. XTX Topco Ltd increased its stake in Matrix Service by 66.3% during the second quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after purchasing an additional 8,344 shares during the period. Finally, Quadrature Capital Ltd increased its stake in Matrix Service by 38.8% during the fourth quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock worth $281,000 after purchasing an additional 8,059 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.