Matrix Service (NASDAQ:MTRX) Short Interest Down 13.9% in March

Matrix Service (NASDAQ:MTRX) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 354,700 shares, a decrease of 13.9% from the February 28th total of 411,900 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average trading volume of 214,300 shares, the short-interest ratio is currently 1.7 days.

Analysts Set New Price Targets

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

Institutional Trading of Matrix Service

Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Matrix Service by 40.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 16,252 shares of the company’s stock worth $195,000 after acquiring an additional 4,644 shares during the last quarter. State of Wyoming boosted its position in shares of Matrix Service by 557.4% during the fourth quarter. State of Wyoming now owns 35,224 shares of the company’s stock worth $422,000 after buying an additional 29,866 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Matrix Service by 14.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 155,437 shares of the company’s stock valued at $1,861,000 after buying an additional 19,923 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Matrix Service by 49.7% in the 4th quarter. Deutsche Bank AG now owns 30,544 shares of the company’s stock valued at $366,000 after buying an additional 10,142 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Matrix Service during the 4th quarter worth about $120,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of Matrix Service stock traded up $0.04 on Wednesday, hitting $12.50. The company’s stock had a trading volume of 20,831 shares, compared to its average volume of 205,412. The company has a market capitalization of $345.09 million, a price-to-earnings ratio of -10.25 and a beta of 1.11. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75. The firm has a fifty day moving average price of $13.46 and a 200-day moving average price of $12.69.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. As a group, analysts forecast that Matrix Service will post -0.26 EPS for the current year.

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.