Matrix Service Company (NASDAQ:MTRX) Sees Large Decline in Short Interest

Matrix Service Company (NASDAQ:MTRX) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 435,161 shares, a drop of 19.8% from the January 15th total of 542,508 shares. Based on an average daily trading volume, of 207,054 shares, the short-interest ratio is currently 2.1 days. Approximately 1.6% of the shares of the company are sold short. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 207,054 shares, the short-interest ratio is currently 2.1 days.

Insider Transactions at Matrix Service

In other Matrix Service news, insider Shawn P. Payne sold 5,231 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $11.42, for a total value of $59,738.02. Following the transaction, the insider directly owned 102,179 shares of the company’s stock, valued at approximately $1,166,884.18. The trade was a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in Matrix Service during the 3rd quarter valued at $28,000. BNP Paribas Financial Markets lifted its position in shares of Matrix Service by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after acquiring an additional 1,032 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock valued at $45,000 after acquiring an additional 1,893 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Matrix Service during the 3rd quarter worth about $67,000. Finally, Daytona Street Capital LLC acquired a new position in Matrix Service in the 4th quarter valued at about $78,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Matrix Service Price Performance

Matrix Service stock traded up $0.12 during trading hours on Monday, hitting $11.46. The stock had a trading volume of 312,138 shares, compared to its average volume of 276,640. Matrix Service has a 1-year low of $9.33 and a 1-year high of $16.10. The stock has a market capitalization of $322.37 million, a price-to-earnings ratio of -16.85, a PEG ratio of 2.50 and a beta of 0.95. The stock’s fifty day moving average is $12.56 and its two-hundred day moving average is $13.10.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 4th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). Matrix Service had a negative return on equity of 8.56% and a negative net margin of 2.30%.The business had revenue of $210.51 million during the quarter, compared to analysts’ expectations of $215.42 million. As a group, sell-side analysts anticipate that Matrix Service will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MTRX shares. Northland Securities set a $24.00 price target on shares of Matrix Service in a report on Wednesday, February 11th. DA Davidson restated a “buy” rating and issued a $17.00 price target on shares of Matrix Service in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Matrix Service presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.