Matrix Service (NASDAQ:MTRX) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Matrix Service (NASDAQ:MTRX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.07 and traded as high as $14.20. Matrix Service shares last traded at $13.08, with a volume of 126,216 shares.

Analyst Ratings Changes

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

Matrix Service Stock Performance

The firm’s 50-day simple moving average is $13.56 and its 200 day simple moving average is $12.07. The stock has a market capitalization of $361.14 million, a P/E ratio of -10.72 and a beta of 1.28.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors and hedge funds have recently modified their holdings of MTRX. SG Americas Securities LLC bought a new stake in shares of Matrix Service in the 3rd quarter valued at about $108,000. Victory Capital Management Inc. raised its holdings in shares of Matrix Service by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 72,587 shares of the company’s stock valued at $837,000 after purchasing an additional 2,987 shares during the period. Royce & Associates LP raised its holdings in shares of Matrix Service by 14.3% in the 3rd quarter. Royce & Associates LP now owns 863,262 shares of the company’s stock valued at $9,953,000 after purchasing an additional 107,820 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Matrix Service by 44.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,302 shares of the company’s stock valued at $1,917,000 after buying an additional 51,433 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Matrix Service by 2.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after buying an additional 1,573 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

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.