Mastech Digital (NYSE:MHH) Shares Down 42.7% - Time to Sell?

Shares of Mastech Digital, Inc. (NYSE:MHH - Get Free Report) were down 42.7% during trading on Wednesday . The company traded as low as $13.33 and last traded at $7.77. Approximately 14,288 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 19,108 shares. The stock had previously closed at $13.55.

Mastech Digital Stock Down 2.6%

The firm has a market cap of $106.49 million, a price-to-earnings ratio of 31.24, a P/E/G ratio of 0.79 and a beta of 0.81. The stock has a 50 day moving average of $7.86 and a 200 day moving average of $9.84.

Mastech Digital (NYSE:MHH - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Mastech Digital had a return on equity of 8.20% and a net margin of 1.71%. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, analysts predict that Mastech Digital, Inc. will post 0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Mastech Digital

Large investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Mastech Digital by 86.9% in the 3rd quarter. Barclays PLC now owns 6,544 shares of the company's stock worth $65,000 after purchasing an additional 3,042 shares in the last quarter. Marshall Wace LLP acquired a new position in Mastech Digital during the 4th quarter valued at about $156,000. Citadel Advisors LLC acquired a new position in Mastech Digital during the 4th quarter valued at about $159,000. Cetera Investment Advisers boosted its stake in Mastech Digital by 37.5% during the 1st quarter. Cetera Investment Advisers now owns 21,132 shares of the company's stock valued at $216,000 after purchasing an additional 5,761 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Mastech Digital during the 4th quarter valued at about $223,000. 18.43% of the stock is currently owned by institutional investors.

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.