Mistras Group (NYSE:MG) Sees Strong Trading Volume – What’s Next?

Mistras Group Inc (NYSE:MG) shares saw unusually-high trading volume on Thursday. 468,853 shares traded hands during trading, an increase of 104% from the average daily volume of 229,331 shares. The stock last traded at $20.2150 and had previously closed at $20.47.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MG shares. Weiss Ratings raised Mistras Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 13th. Wall Street Zen lowered shares of Mistras Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Mistras Group Stock Performance

The company has a market cap of $643.37 million, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.90. The company has a 50-day moving average of $20.30 and a 200 day moving average of $17.30. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.58.

Mistras Group (NYSE:MG) last announced its quarterly earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. The firm had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $189.66 million. Analysts predict that Mistras Group Inc will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MG. Bank of New York Mellon Corp purchased a new position in Mistras Group during the 2nd quarter worth $1,384,000. Manatuck Hill Partners LLC purchased a new position in shares of Mistras Group in the 2nd quarter valued at approximately $1,256,000. Equitable Holdings Inc. acquired a new position in Mistras Group in the 2nd quarter valued at $1,510,000. Sei Investments Co. lifted its position in Mistras Group by 249.4% in the first quarter. Sei Investments Co. now owns 204,840 shares of the technology company’s stock valued at $3,028,000 after purchasing an additional 146,222 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Mistras Group in the second quarter valued at approximately $3,939,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.

Mistras Group Company Profile

Mistras Group, Inc provides asset protection and industrial inspection services designed to help companies monitor the condition, safety and performance of critical infrastructure. The company combines nondestructive testing, inspection, engineering, monitoring and data-management capabilities to identify defects and support maintenance decisions without interrupting the operation of industrial assets.

Its services and technologies include nondestructive testing and examination, mechanical integrity programs, acoustic-emission testing, structural health monitoring, rope access, remote visual inspection and other specialized inspection techniques.