Short Interest in Matrix Service (NASDAQ:MTRX) Drops By 13.2%

Matrix Service (NASDAQ:MTRX) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 411,900 shares, a decrease of 13.2% from the February 13th total of 474,600 shares. Based on an average daily trading volume, of 193,600 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.6% of the company’s stock are short sold.

Institutional Investors Weigh In On Matrix Service

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in shares of Matrix Service by 180.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company’s stock valued at $32,000 after acquiring an additional 1,746 shares during the period. R Squared Ltd bought a new stake in shares of Matrix Service during the 4th quarter valued at $45,000. Quarry LP bought a new stake in shares of Matrix Service during the 3rd quarter valued at $53,000. Legal & General Group Plc grew its position in shares of Matrix Service by 29.6% during the 4th quarter. Legal & General Group Plc now owns 8,236 shares of the company’s stock valued at $99,000 after acquiring an additional 1,881 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in Matrix Service in the 4th quarter worth $99,000. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Down 3.2 %

Shares of MTRX traded down $0.43 during trading hours on Thursday, reaching $13.03. 106,624 shares of the company traded hands, compared to its average volume of 201,620. Matrix Service has a 12 month low of $8.61 and a 12 month high of $15.75. The company’s fifty day moving average price is $13.62 and its two-hundred day moving average price is $12.50. The company has a market capitalization of $359.72 million, a price-to-earnings ratio of -10.75 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last issued its quarterly 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%. On average, analysts expect that Matrix Service will post -0.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. DA Davidson lifted their target price on 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 report on Friday, February 14th.

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.