Matrix Service (NASDAQ:MTRX) Stock Rating Upgraded by StockNews.com

Matrix Service (NASDAQ:MTRX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Separately, DA Davidson restated a “buy” rating and set a $18.00 target price on shares of Matrix Service in a research note on Tuesday.

Matrix Service Price Performance

Matrix Service stock opened at $10.61 on Tuesday. The stock has a market cap of $289.75 million, a PE ratio of -13.96, a P/E/G ratio of 2.81 and a beta of 1.24. The stock’s fifty day moving average is $9.66 and its two-hundred day moving average is $10.98. Matrix Service has a 1-year low of $8.26 and a 1-year high of $13.90.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in Matrix Service during the 2nd quarter worth $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Matrix Service during the second quarter worth about $110,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Matrix Service during the fourth quarter worth about $126,000. XTX Topco Ltd increased its position in shares of Matrix Service by 66.3% during the second quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after purchasing an additional 8,344 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of Matrix Service by 38.8% in the 4th quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock valued at $281,000 after purchasing an additional 8,059 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

About Matrix Service

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.