Matrix Service (NASDAQ:MTRX) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Matrix Service (NASDAQ:MTRX)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.47 and traded as high as $15.20. Matrix Service shares last traded at $15.05, with a volume of 177,634 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th.

Matrix Service Price Performance

The firm’s fifty day moving average price is $13.05 and its 200 day moving average price is $11.49.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. The company had revenue of $165.58 million for the quarter, compared to analysts’ expectations of $183.90 million. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, sell-side analysts expect that Matrix Service will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Matrix Service

Large investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Matrix Service in the 4th quarter worth approximately $45,000. SG Americas Securities LLC boosted 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 acquiring an additional 1,731 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Matrix Service by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company’s stock worth $1,045,000 after purchasing an additional 60,838 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Matrix Service during the third quarter worth $155,000. Finally, Barclays PLC lifted its holdings in shares of Matrix Service by 90.8% during the 3rd quarter. Barclays PLC now owns 53,435 shares of the company’s stock valued at $616,000 after purchasing an additional 25,434 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.

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.