Mistras Group (NYSE:MG) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Mistras Group Inc (NYSE:MG)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.86 and traded as high as $16.88. Mistras Group shares last traded at $16.6440, with a volume of 157,263 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on the stock. Roth Capital began coverage on shares of Mistras Group in a research note on Thursday, April 30th. They issued a “buy” rating and a $22.00 price target for the company. Zacks Research lowered shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Mistras Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Mistras Group in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Mistras Group Stock Up 1.2%

The stock has a fifty day moving average price of $17.82 and a two-hundred day moving average price of $15.91. The company has a market cap of $519.21 million, a price-to-earnings ratio of 23.31, a P/E/G ratio of 0.99 and a beta of 0.88. The company has a quick ratio of 1.67, a current ratio of 1.81 and a debt-to-equity ratio of 0.80.

Mistras Group (NYSE:MG) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.08 EPS for the quarter. The business had revenue of $169.03 million for the quarter, compared to analyst estimates of $164.25 million. Mistras Group had a net margin of 3.06% and a return on equity of 13.60%. As a group, sell-side analysts expect that Mistras Group Inc will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Mistras Group

A number of large investors have recently added to or reduced their stakes in MG. Dynamic Technology Lab Private Ltd acquired a new position in Mistras Group in the 1st quarter valued at $256,000. Empowered Funds LLC increased its position in shares of Mistras Group by 7.3% in the first quarter. Empowered Funds LLC now owns 218,088 shares of the technology company’s stock worth $2,307,000 after purchasing an additional 14,786 shares during the period. American Century Companies Inc. increased its position in shares of Mistras Group by 24.4% in the second quarter. American Century Companies Inc. now owns 47,498 shares of the technology company’s stock worth $380,000 after purchasing an additional 9,312 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Mistras Group by 33.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 153,312 shares of the technology company’s stock valued at $1,228,000 after purchasing an additional 38,366 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Mistras Group by 141.7% in the second quarter. Qube Research & Technologies Ltd now owns 111,824 shares of the technology company’s stock valued at $896,000 after purchasing an additional 65,551 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.

About Mistras Group

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.