Mastech Digital, Inc. (NYSE:MHH) Sees Significant Increase in Short Interest

Mastech Digital, Inc. (NYSE:MHH - Get Free Report) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 17,900 shares, a growth of 113.1% from the May 15th total of 8,400 shares. Based on an average trading volume of 19,100 shares, the short-interest ratio is presently 0.9 days. Currently, 0.5% of the company's stock are sold short.

Institutional Investors Weigh In On Mastech Digital

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Mastech Digital by 24.1% in the 4th quarter. Barclays PLC now owns 8,120 shares of the company's stock valued at $122,000 after purchasing an additional 1,576 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Mastech Digital during the 1st quarter valued at approximately $148,000. Marshall Wace LLP purchased a new position in shares of Mastech Digital in the fourth quarter worth $156,000. Citadel Advisors LLC acquired a new stake in shares of Mastech Digital during the fourth quarter worth $159,000. Finally, Cetera Investment Advisers lifted its stake in shares of Mastech Digital by 37.5% during the first quarter. Cetera Investment Advisers now owns 21,132 shares of the company's stock worth $216,000 after buying an additional 5,761 shares during the period. Institutional investors and hedge funds own 18.43% of the company's stock.

Mastech Digital Stock Performance

MHH stock traded down $0.38 on Thursday, hitting $6.64. 8,000 shares of the company's stock were exchanged, compared to its average volume of 20,381. The firm has a 50 day moving average price of $7.08 and a two-hundred day moving average price of $8.08. Mastech Digital has a 12-month low of $6.20 and a 12-month high of $16.00. The stock has a market cap of $78.12 million, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Mastech Digital from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st.

Mastech Digital Company Profile

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.