Mistras Group, Inc. (NYSE:MG) Short Interest Up 21.6% in March

Mistras Group, Inc. (NYSE:MG) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 217,600 shares, an increase of 21.6% from the February 28th total of 178,900 shares. Based on an average daily volume of 141,100 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Mistras Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th.

Mistras Group Trading Down 3.8 %

Shares of MG traded down $0.40 during trading hours on Thursday, hitting $9.99. 75,091 shares of the stock traded hands, compared to its average volume of 121,121. The business has a fifty day moving average of $10.06 and a 200-day moving average of $9.93. The firm has a market capitalization of $310.13 million, a PE ratio of 28.53, a price-to-earnings-growth ratio of 0.73 and a beta of 1.67. Mistras Group has a 1-year low of $7.45 and a 1-year high of $12.44. The company has a current ratio of 1.68, a quick ratio of 1.55 and a debt-to-equity ratio of 0.93.

Insiders Place Their Bets

In related news, Director Nicholas Debenedictis bought 10,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was bought at an average cost of $9.84 per share, with a total value of $98,400.00. Following the completion of the purchase, the director now owns 217,511 shares in the company, valued at approximately $2,140,308.24. The trade was a 4.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 12.30% of the company’s stock.

Institutional Trading of Mistras Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of Mistras Group by 447.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,379 shares of the technology company’s stock worth $49,000 after buying an additional 4,396 shares during the period. Heck Capital Advisors LLC acquired a new stake in Mistras Group during the 4th quarter worth $50,000. Sherbrooke Park Advisers LLC acquired a new stake in Mistras Group during the 4th quarter worth $96,000. EntryPoint Capital LLC bought a new stake in shares of Mistras Group during the 4th quarter valued at $102,000. Finally, Voya Investment Management LLC acquired a new position in shares of Mistras Group in the 4th quarter valued at $124,000. 74.92% of the stock is owned by institutional investors.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.