Short Interest in Matrix Service Company (NASDAQ:MTRX) Grows By 20.5%

Matrix Service Company (NASDAQ:MTRX) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 587,675 shares, a growth of 20.5% from the December 15th total of 487,756 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 231,026 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily volume of 231,026 shares, the days-to-cover ratio is currently 2.5 days. Currently, 2.2% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research firms have recently commented on MTRX. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and issued a $17.00 price target on shares of Matrix Service in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Matrix Service presently has a consensus rating of “Hold” and an average target price of $17.00.

Matrix Service Price Performance

Shares of NASDAQ:MTRX traded up $0.15 during trading on Monday, hitting $13.71. The company had a trading volume of 205,544 shares, compared to its average volume of 212,703. The company has a fifty day simple moving average of $11.99 and a two-hundred day simple moving average of $13.31. Matrix Service has a one year low of $9.33 and a one year high of $16.10. The stock has a market cap of $385.53 million, a price-to-earnings ratio of -16.13, a price-to-earnings-growth ratio of 2.34 and a beta of 0.93.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. Matrix Service had a negative net margin of 2.93% and a negative return on equity of 11.68%. The company had revenue of $211.88 million during the quarter, compared to analyst estimates of $206.66 million. On average, equities research analysts anticipate that Matrix Service will post -0.26 earnings per share for the current year.

Insider Buying and Selling

In other Matrix Service news, insider Shawn P. Payne sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $12.58, for a total value of $103,785.00. Following the completion of the transaction, the insider directly owned 110,429 shares in the company, valued at $1,389,196.82. This represents a 6.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 16,500 shares of company stock valued at $198,000. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Matrix Service

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in shares of Matrix Service by 601.5% during the first quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock valued at $3,627,000 after buying an additional 250,206 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Matrix Service by 53.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 175,736 shares of the company’s stock valued at $2,184,000 after acquiring an additional 61,246 shares during the period. Jane Street Group LLC raised its stake in shares of Matrix Service by 89.8% in the first quarter. Jane Street Group LLC now owns 34,542 shares of the company’s stock worth $429,000 after purchasing an additional 16,343 shares during the last quarter. Strs Ohio acquired a new stake in Matrix Service during the 1st quarter valued at approximately $493,000. Finally, Voya Investment Management LLC lifted its position in Matrix Service by 69.1% during the first quarter. Voya Investment Management LLC now owns 35,667 shares of the company’s stock valued at $443,000 after purchasing an additional 14,578 shares during the period. Institutional investors own 78.38% of the company’s stock.

About Matrix Service

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.