Matrix Service (NASDAQ:MTRX) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Matrix Service (NASDAQ:MTRX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.07 and traded as high as $14.20. Matrix Service shares last traded at $13.08, with a volume of 126,216 shares traded.

Analyst Ratings Changes

MTRX has been the subject of several research analyst reports. DA Davidson boosted their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. StockNews.com cut shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th.

Matrix Service Trading Down 6.8 %

The business’s fifty day simple moving average is $13.56 and its 200 day simple moving average is $12.07. The stock has a market cap of $361.14 million, a price-to-earnings ratio of -10.72 and a beta of 1.28.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. As a group, research analysts anticipate that Matrix Service will post -0.26 earnings per share for the current year.

Institutional Trading of Matrix Service

A number of institutional investors have recently bought and sold shares of MTRX. SG Americas Securities LLC acquired a new stake in Matrix Service during the 3rd quarter worth $108,000. Victory Capital Management Inc. grew its holdings in shares of Matrix Service by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 72,587 shares of the company’s stock valued at $837,000 after buying an additional 2,987 shares during the period. Royce & Associates LP grew its holdings in shares of Matrix Service by 14.3% in the 3rd quarter. Royce & Associates LP now owns 863,262 shares of the company’s stock valued at $9,953,000 after buying an additional 107,820 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Matrix Service by 44.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,302 shares of the company’s stock valued at $1,917,000 after buying an additional 51,433 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Matrix Service by 2.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after buying an additional 1,573 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Matrix Service

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.