StockNews.com Lowers Matrix Service (NASDAQ:MTRX) to Hold

Matrix Service (NASDAQ:MTRX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, DA Davidson restated a “buy” rating and set a $18.00 target price on shares of Matrix Service in a research report on Tuesday, September 10th.

Matrix Service Stock Down 2.6 %

Shares of Matrix Service stock traded down $0.28 during trading on Wednesday, reaching $10.35. The company’s stock had a trading volume of 188,558 shares, compared to its average volume of 228,331. Matrix Service has a 52 week low of $8.61 and a 52 week high of $13.90. The firm has a market cap of $282.65 million, a PE ratio of -13.62, a P/E/G ratio of 3.19 and a beta of 1.24. The business’s 50-day moving average price is $9.84 and its 200-day moving average price is $10.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in Matrix Service by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 69,400 shares of the company’s stock worth $679,000 after buying an additional 1,700 shares in the last quarter. Jump Financial LLC increased its stake in Matrix Service by 338.7% in the fourth quarter. Jump Financial LLC now owns 53,381 shares of the company’s stock valued at $522,000 after acquiring an additional 41,212 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Matrix Service during the fourth quarter valued at approximately $126,000. Trexquant Investment LP acquired a new position in Matrix Service during the fourth quarter valued at approximately $317,000. Finally, Quadrature Capital Ltd lifted its stake in Matrix Service by 38.8% during the fourth quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock worth $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.

Matrix Service Company Profile

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.