Mastech Digital (NYSE:MHH) Stock Price Down 21.8% – Time to Sell?

Mastech Digital, Inc. (NYSE:MHH)’s stock price dropped 21.8% during mid-day trading on Tuesday . The stock traded as low as $13.33 and last traded at $10.60. Approximately 14,288 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 19,620 shares. The stock had previously closed at $13.55.

Analysts Set New Price Targets

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

Mastech Digital Price Performance

The company has a market capitalization of $124.08 million, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 0.79 and a beta of 0.56. The business has a fifty day moving average price of $12.60 and a 200 day moving average price of $13.94.

Mastech Digital (NYSE:MHH) last released its earnings results on Wednesday, February 19th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Mastech Digital had a net margin of 1.71% and a return on equity of 8.20%. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, sell-side analysts predict that Mastech Digital, Inc. will post 0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mastech Digital

Several hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC acquired a new position in Mastech Digital in the 3rd quarter valued at approximately $29,000. Barclays PLC increased its position in shares of Mastech Digital by 86.9% during the third quarter. Barclays PLC now owns 6,544 shares of the company’s stock valued at $65,000 after purchasing an additional 3,042 shares during the period. Virtu Financial LLC acquired a new position in shares of Mastech Digital in the third quarter valued at $101,000. Marshall Wace LLP bought a new position in Mastech Digital in the fourth quarter worth $156,000. Finally, Citadel Advisors LLC bought a new position in Mastech Digital in the fourth quarter worth $159,000. Institutional investors own 18.43% of the company’s stock.

Mastech Digital Company Profile

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.