Mastech Digital (NYSE:MHH) Shares Down 42.4% - What's Next?

Mastech Digital, Inc. (NYSE:MHH - Get Free Report)'s stock price dropped 42.4% on Friday . The company traded as low as $13.33 and last traded at $7.80. Approximately 14,288 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 20,117 shares. The stock had previously closed at $13.55.

Analyst Upgrades and Downgrades

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

Mastech Digital Trading Down 4.1%

The business's 50 day moving average price is $7.62 and its two-hundred day moving average price is $8.59. The stock has a market cap of $76.12 million, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 0.79 and a beta of 0.81.

Institutional Investors Weigh In On Mastech Digital

A number of institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership bought a new stake in shares of Mastech Digital in the 4th quarter worth $267,000. Geode Capital Management LLC boosted its position in shares of Mastech Digital by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 51,384 shares of the company's stock valued at $766,000 after buying an additional 3,631 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Mastech Digital by 2.4% in the 4th quarter. Renaissance Technologies LLC now owns 111,727 shares of the company's stock worth $1,665,000 after buying an additional 2,600 shares in the last quarter. Barclays PLC raised its position in Mastech Digital by 24.1% in the 4th quarter. Barclays PLC now owns 8,120 shares of the company's stock worth $122,000 after buying an additional 1,576 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Mastech Digital in the 4th quarter worth about $156,000. 18.43% of the stock is owned by hedge funds and other institutional investors.

About Mastech Digital

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.