Matrix Service (NASDAQ:MTRX) Short Interest Up 42.1% in March

Matrix Service (NASDAQ:MTRX) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 504,200 shares, a growth of 42.1% from the March 15th total of 354,700 shares. Based on an average daily trading volume, of 229,500 shares, the short-interest ratio is presently 2.2 days. Approximately 1.9% of the shares of the company are short sold.

Hedge Funds Weigh In On Matrix Service

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its holdings in Matrix Service by 2.7% in the 4th quarter. Rhumbline Advisers now owns 39,725 shares of the company’s stock valued at $475,000 after purchasing an additional 1,028 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Matrix Service by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,465 shares of the company’s stock valued at $485,000 after buying an additional 1,388 shares during the period. SG Americas Securities LLC grew its position in Matrix Service by 18.4% during the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock worth $133,000 after buying an additional 1,731 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Matrix Service by 180.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company’s stock worth $32,000 after acquiring an additional 1,746 shares during the last quarter. Finally, Money Concepts Capital Corp raised its holdings in shares of Matrix Service by 1.7% in the 4th quarter. Money Concepts Capital Corp now owns 108,057 shares of the company’s stock valued at $1,293,000 after acquiring an additional 1,790 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Up 1.4 %

MTRX opened at $10.86 on Friday. The firm has a 50-day moving average price of $12.34 and a 200-day moving average price of $12.61. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75. The company has a market capitalization of $299.81 million, a price-to-earnings ratio of -8.90 and a beta of 1.01.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. On average, sell-side analysts expect that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MTRX shares. StockNews.com downgraded shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. DA Davidson boosted their target price on Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

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.