Matrix Service (NASDAQ:MTRX) Sees Large Growth in Short Interest

Matrix Service (NASDAQ:MTRX) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 368,900 shares, an increase of 35.6% from the March 31st total of 272,000 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 224,800 shares, the days-to-cover ratio is currently 1.6 days.

Matrix Service Trading Down 0.9 %

Shares of MTRX traded down $0.10 during trading hours on Tuesday, reaching $11.26. 12,447 shares of the stock traded hands, compared to its average volume of 203,484. The company has a market cap of $307.40 million, a price-to-earnings ratio of -16.23 and a beta of 1.23. The stock has a fifty day simple moving average of $12.43 and a 200 day simple moving average of $11.16. Matrix Service has a 52 week low of $4.78 and a 52 week high of $13.90.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). Matrix Service had a negative net margin of 2.49% and a negative return on equity of 12.50%. The firm had revenue of $175.04 million during the quarter, compared to the consensus estimate of $195.27 million. Analysts predict that Matrix Service will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Saturday, February 17th.

Insider Buying and Selling at Matrix Service

In related news, VP Kevin A. Durkin sold 3,900 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $12.72, for a total transaction of $49,608.00. Following the transaction, the vice president now directly owns 76,131 shares in the company, valued at $968,386.32. The sale was disclosed in a filing with the SEC, which is available through this link. In other Matrix Service news, VP Kevin A. Durkin sold 3,900 shares of Matrix Service stock in a transaction on Friday, February 9th. The stock was sold at an average price of $12.72, for a total value of $49,608.00. Following the completion of the transaction, the vice president now directly owns 76,131 shares of the company’s stock, valued at approximately $968,386.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John R. Hewitt sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.25, for a total transaction of $132,500.00. Following the completion of the transaction, the chief executive officer now owns 477,891 shares of the company’s stock, valued at $6,332,055.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,800 shares of company stock valued at $233,354. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Matrix Service

Several institutional investors have recently modified their holdings of MTRX. Tower Research Capital LLC TRC raised its position in shares of Matrix Service by 222.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,063 shares of the company’s stock worth $40,000 after acquiring an additional 2,802 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Matrix Service in the 4th quarter worth approximately $48,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Matrix Service in the fourth quarter worth $126,000. Jump Financial LLC bought a new position in shares of Matrix Service in the third quarter worth approximately $144,000. Finally, Algert Global LLC raised its holdings in Matrix Service by 17.9% in the 3rd quarter. Algert Global LLC now owns 12,490 shares of the company’s stock worth $147,000 after acquiring an additional 1,900 shares during the last quarter. 78.38% of the stock is currently 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.