Matrix Service (NASDAQ:MTRX) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Matrix Service Company (NASDAQ:MTRX)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.65 and traded as high as $14.07. Matrix Service shares last traded at $13.90, with a volume of 574,149 shares trading hands.

Matrix Service Stock Performance

The stock has a market cap of $383.78 million, a PE ratio of -17.16 and a beta of 1.03. The company has a 50 day moving average of $12.32 and a two-hundred day moving average of $12.65.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Matrix Service had a negative net margin of 3.04% and a negative return on equity of 14.08%. The business had revenue of $200.16 million for the quarter, compared to analysts’ expectations of $215.06 million. As a group, equities research analysts anticipate that Matrix Service Company will post -0.26 EPS for the current year.

Institutional Trading of Matrix Service

Several institutional investors have recently modified their holdings of the stock. ACK Asset Management LLC raised its position in shares of Matrix Service by 47.3% during the 4th quarter. ACK Asset Management LLC now owns 1,179,901 shares of the company’s stock worth $14,123,000 after purchasing an additional 378,901 shares during the last quarter. Westerly Capital Management LLC increased its stake in Matrix Service by 4.5% during the 4th quarter. Westerly Capital Management LLC now owns 1,150,000 shares of the company’s stock worth $13,766,000 after buying an additional 50,000 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Matrix Service by 4.0% during the fourth quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock valued at $10,751,000 after acquiring an additional 34,860 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Matrix Service by 83.4% during the first quarter. American Century Companies Inc. now owns 540,909 shares of the company’s stock valued at $6,723,000 after acquiring an additional 246,020 shares during the last quarter. Finally, CenterBook Partners LP lifted its position in shares of Matrix Service by 789.6% in the first quarter. CenterBook Partners LP now owns 536,447 shares of the company’s stock valued at $6,668,000 after acquiring an additional 476,148 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.