Matrix Service (NASDAQ:MTRX) Short Interest Down 13.2% in February

Matrix Service (NASDAQ:MTRX) was the recipient of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 411,900 shares, a decrease of 13.2% from the February 13th total of 474,600 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily volume of 193,600 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On Matrix Service

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its stake in Matrix Service by 2.7% in the fourth quarter. Rhumbline Advisers now owns 39,725 shares of the company’s stock worth $475,000 after buying an additional 1,028 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Matrix Service by 5.8% in the 3rd quarter. Verition Fund Management LLC now owns 22,639 shares of the company’s stock worth $261,000 after acquiring an additional 1,239 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Matrix Service by 3.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,465 shares of the company’s stock worth $485,000 after purchasing an additional 1,388 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Matrix Service by 2.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after purchasing an additional 1,573 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Matrix Service by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after purchasing an additional 1,731 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Matrix Service Trading Down 2.7 %

Shares of MTRX stock opened at $13.09 on Friday. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75. The stock has a fifty day simple moving average of $13.64 and a two-hundred day simple moving average of $12.51. The stock has a market capitalization of $361.38 million, a price-to-earnings ratio of -10.73 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. Research analysts predict that Matrix Service will post -0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. DA Davidson raised their target price on shares of Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th.

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.