Short Interest in Mistras Group Inc (NYSE:MG) Drops By 21.4%

Mistras Group Inc (NYSE:MG) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 534,786 shares, a decline of 21.4% from the February 12th total of 680,638 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily trading volume, of 132,128 shares, the short-interest ratio is currently 4.0 days. Based on an average daily trading volume, of 132,128 shares, the short-interest ratio is currently 4.0 days. Currently, 1.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MG. Zacks Research raised shares of Mistras Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Mistras Group in a report on Thursday, January 22nd. Finally, UBS Group set a $16.00 price objective on Mistras Group in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Mistras Group currently has an average rating of “Buy” and an average price target of $16.00.

Mistras Group Stock Performance

MG traded down $0.12 on Friday, reaching $14.14. The company had a trading volume of 133,030 shares, compared to its average volume of 166,577. The stock has a market cap of $446.09 million, a P/E ratio of 26.68, a P/E/G ratio of 0.84 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.77 and a current ratio of 1.89. Mistras Group has a fifty-two week low of $7.06 and a fifty-two week high of $15.84. The company’s fifty day moving average is $14.42 and its 200 day moving average is $12.13.

Mistras Group (NYSE:MG) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Mistras Group had a net margin of 2.33% and a return on equity of 13.09%. The firm had revenue of $181.46 million during the quarter, compared to the consensus estimate of $176.27 million. As a group, analysts predict that Mistras Group will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mistras Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its position in Mistras Group by 5.6% during the third quarter. Royce & Associates LP now owns 1,342,747 shares of the technology company’s stock worth $13,213,000 after acquiring an additional 71,490 shares during the period. LSV Asset Management increased its holdings in shares of Mistras Group by 130.8% during the second quarter. LSV Asset Management now owns 51,001 shares of the technology company’s stock worth $409,000 after purchasing an additional 28,901 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Mistras Group in the second quarter valued at approximately $431,000. Acuitas Investments LLC boosted its stake in shares of Mistras Group by 51.7% in the third quarter. Acuitas Investments LLC now owns 643,483 shares of the technology company’s stock valued at $6,332,000 after buying an additional 219,421 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Mistras Group during the second quarter worth approximately $781,000. Institutional investors and hedge funds own 74.92% of the company’s stock.

Mistras Group Company Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.