Matrix Service (NASDAQ:MTRX) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Matrix Service Company (NASDAQ:MTRX)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.34 and traded as high as $13.89. Matrix Service shares last traded at $13.71, with a volume of 263,354 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Matrix Service Price Performance

The company has a market cap of $375.54 million, a price-to-earnings ratio of -25.19, a PEG ratio of 3.05 and a beta of 0.99. The business’s 50-day simple moving average is $13.11 and its 200-day simple moving average is $12.35.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. The business had revenue of $206.71 million for the quarter, compared to analyst estimates of $231.52 million. As a group, sell-side analysts forecast that Matrix Service Company will post 0.25 EPS for the current year.

Insider Activity at Matrix Service

In related news, CEO John R. Hewitt sold 36,000 shares of Matrix Service stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $12.50, for a total transaction of $450,000.00. Following the completion of the sale, the chief executive officer owned 581,806 shares in the company, valued at approximately $7,272,575. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Matrix Service

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Matrix Service by 69.9% in the 1st quarter. Bank of America Corp DE now owns 42,223 shares of the company’s stock valued at $485,000 after acquiring an additional 17,376 shares during the last quarter. Royal Bank of Canada increased its stake in Matrix Service by 249.0% in the first quarter. Royal Bank of Canada now owns 100,697 shares of the company’s stock valued at $1,156,000 after purchasing an additional 71,841 shares during the last quarter. Renaissance Technologies LLC lifted its position in Matrix Service by 2.1% during the first quarter. Renaissance Technologies LLC now owns 255,800 shares of the company’s stock worth $2,937,000 after buying an additional 5,200 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Matrix Service by 31.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 36,109 shares of the company’s stock valued at $415,000 after buying an additional 8,655 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of Matrix Service during the 1st quarter valued at about $277,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.