Matrix Service Company (NASDAQ:MTRX) Short Interest Update

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

Matrix Service Stock Performance

Shares of MTRX stock traded down $0.15 during trading on Tuesday, hitting $11.31. 253,256 shares of the company were exchanged, compared to its average volume of 276,640. The business’s 50-day simple moving average is $12.54 and its 200 day simple moving average is $13.08. Matrix Service has a twelve month low of $9.33 and a twelve month high of $16.10. The firm has a market capitalization of $318.15 million, a price-to-earnings ratio of -16.63, a P/E/G ratio of 2.50 and a beta of 0.95.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 4th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.06). The company had revenue of $210.51 million during the quarter, compared to analyst estimates of $215.42 million. Matrix Service had a negative net margin of 2.30% and a negative return on equity of 8.56%. On average, equities analysts forecast that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shawn P. Payne sold 5,231 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $11.42, for a total value of $59,738.02. Following the completion of the transaction, the insider owned 102,179 shares in the company, valued at $1,166,884.18. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in Matrix Service in the 3rd quarter worth about $28,000. BNP Paribas Financial Markets grew its stake in shares of Matrix Service by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock valued at $34,000 after buying an additional 1,032 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after buying an additional 1,893 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Matrix Service in the third quarter worth approximately $67,000. Finally, Daytona Street Capital LLC bought a new position in Matrix Service during the fourth quarter valued at approximately $78,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MTRX shares. DA Davidson reiterated a “buy” rating and issued a $17.00 target price on shares of Matrix Service in a report on Friday, February 6th. Northland Securities set a $24.00 price target on shares of Matrix Service in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research note 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Matrix Service has an average 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.