Matrix Service (NASDAQ:MTRX) Shares Cross Above 200 Day Moving Average – Should You Sell?

Matrix Service (NASDAQ:MTRX)’s stock price 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 changing hands.

Wall Street Analyst Weigh In

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

Matrix Service Stock Performance

The stock has a market capitalization of $361.10 million, a price-to-earnings ratio of -10.72 and a beta of 1.28. The company’s 50 day moving average is $13.56 and its 200 day moving average is $12.12.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate 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%. On average, equities research analysts anticipate 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 have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Matrix Service by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company’s stock worth $1,045,000 after acquiring an additional 60,838 shares during the period. Barclays PLC raised its position in Matrix Service by 90.8% in the third quarter. Barclays PLC now owns 53,435 shares of the company’s stock worth $616,000 after purchasing an additional 25,434 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares in the last quarter. State Street Corp grew its stake in shares of Matrix Service by 17.0% in the 3rd quarter. State Street Corp now owns 384,173 shares of the company’s stock valued at $4,430,000 after purchasing an additional 55,691 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Matrix Service by 43.9% in the 3rd quarter. Jane Street Group LLC now owns 50,640 shares of the company’s stock valued at $584,000 after purchasing an additional 15,444 shares during the period. 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.