Matrix Service (NASDAQ:MTRX) Short Interest Update

Matrix Service (NASDAQ:MTRX) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 702,000 shares, a drop of 16.8% from the October 15th total of 843,900 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily volume of 173,200 shares, the days-to-cover ratio is presently 4.1 days.

Analyst Ratings Changes

Several brokerages recently weighed in on MTRX. StockNews.com downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. DA Davidson reaffirmed a “buy” rating and set a $18.00 price objective on shares of Matrix Service in a research report on Thursday, September 26th.

Matrix Service Price Performance

MTRX stock opened at $12.52 on Friday. The business’s 50-day moving average is $11.48 and its two-hundred day moving average is $10.69. The firm has a market capitalization of $345.05 million, a P/E ratio of -11.18 and a beta of 1.25. Matrix Service has a 1 year low of $8.61 and a 1 year high of $13.90.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data 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). The firm had revenue of $165.58 million during the quarter, compared to analyst estimates of $183.90 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. During the same quarter in the previous year, the business posted ($0.21) earnings per share. On average, analysts expect that Matrix Service will post -0.04 EPS for the current year.

Institutional Trading of Matrix Service

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Matrix Service by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock worth $15,946,000 after buying an additional 11,587 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Matrix Service by 11.8% during the 1st quarter. Acadian Asset Management LLC now owns 421,808 shares of the company’s stock worth $5,494,000 after buying an additional 44,419 shares during the last quarter. Gendell Jeffrey L lifted its stake in Matrix Service by 5.8% in the 1st quarter. Gendell Jeffrey L now owns 870,556 shares of the company’s stock valued at $11,343,000 after buying an additional 48,000 shares in the last quarter. Ancora Advisors LLC boosted its stake in shares of Matrix Service by 71.8% during the 1st quarter. Ancora Advisors LLC now owns 121,863 shares of the company’s stock worth $1,588,000 after purchasing an additional 50,940 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Matrix Service by 92.0% in the first quarter. Jane Street Group LLC now owns 308,743 shares of the company’s stock valued at $4,023,000 after purchasing an additional 147,942 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other 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.