Mistras Group (NYSE:MG) Stock Crosses Above Two Hundred Day Moving Average of $7.45

Mistras Group, Inc. (NYSE:MG)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.45 and traded as high as $9.15. Mistras Group shares last traded at $8.92, with a volume of 67,129 shares.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Mistras Group from a “d+” rating to a “c-” rating in a research report on Tuesday, February 27th.

Mistras Group Stock Performance

The company’s 50-day simple moving average is $8.98 and its 200 day simple moving average is $7.48. The company has a current ratio of 1.55, a quick ratio of 1.42 and a debt-to-equity ratio of 1.01. The stock has a market cap of $278.21 million, a P/E ratio of -15.65 and a beta of 1.65.

Mistras Group (NYSE:MG) last posted its quarterly earnings results on Wednesday, March 6th. The technology company reported $0.10 EPS for the quarter. The company had revenue of $182.07 million for the quarter. Mistras Group had a negative net margin of 2.48% and a positive return on equity of 3.32%.

Insider Buying and Selling

In related news, EVP Michael J. Lange sold 5,000 shares of Mistras Group stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $8.53, for a total value of $42,650.00. Following the sale, the executive vice president now owns 341,838 shares of the company’s stock, valued at approximately $2,915,878.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MG. Public Employees Retirement System of Ohio grew its position in shares of Mistras Group by 157.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,740 shares of the technology company’s stock valued at $26,000 after purchasing an additional 2,900 shares in the last quarter. Citigroup Inc. purchased a new position in shares of Mistras Group during the 2nd quarter valued at $48,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Mistras Group during the 3rd quarter valued at $53,000. California State Teachers Retirement System purchased a new position in shares of Mistras Group during the 2nd quarter valued at $53,000. Finally, BNP Paribas Arbitrage SNC purchased a new position in shares of Mistras Group during the 2nd quarter valued at $56,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.