Mistras Group (NYSE:MG) Sees Unusually-High Trading Volume – Time to Buy?

Mistras Group Inc (NYSE:MG) shares saw strong trading volume on Monday . 186,934 shares traded hands during trading, a decline of 9% from the previous session’s volume of 206,411 shares.The stock last traded at $20.5980 and had previously closed at $20.75.

Analyst Upgrades and Downgrades

MG has been the subject of several recent analyst reports. Wall Street Zen cut shares of Mistras Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings downgraded Mistras Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.00.

Mistras Group Stock Up 0.1%

The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 1.71. The stock’s fifty day simple moving average is $17.64 and its two-hundred day simple moving average is $17.18. The company has a market capitalization of $661.75 million, a price-to-earnings ratio of 24.99, a P/E/G ratio of 1.25 and a beta of 0.92.

Mistras Group (NYSE:MG) last released its earnings results on Monday, August 10th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $193.13 million for the quarter, compared to the consensus estimate of $189.66 million. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. On average, sell-side analysts anticipate that Mistras Group Inc will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Mistras Group

A number of hedge funds have recently modified their holdings of MG. Susquehanna Fundamental Investments LLC acquired a new position in shares of Mistras Group in the 2nd quarter valued at $296,000. Empowered Funds LLC purchased a new stake in Mistras Group during the second quarter valued at about $3,939,000. Equitable Holdings Inc. acquired a new position in shares of Mistras Group in the second quarter worth about $1,510,000. Public Employees Retirement System of Ohio acquired a new position in shares of Mistras Group in the second quarter worth about $227,000. Finally, Bank of America Corp DE purchased a new position in shares of Mistras Group in the second quarter worth approximately $249,000. 74.92% of the stock is currently owned by institutional investors and hedge funds.

Mistras Group Company Profile

Mistras Group, Inc (NYSE: MG) is an asset protection and industrial inspection company that helps organizations monitor the condition, safety and performance of critical infrastructure. Its services are designed to identify defects, prevent equipment failures and support regulatory compliance across industrial and infrastructure assets.

The company provides nondestructive testing and inspection, engineering and consulting, mechanical integrity programs, asset monitoring and data-management services.