Matrix Service (NASDAQ:MTRX) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Matrix Service shares moved above their 200-day moving average, trading as high as $12.61 and last changing hands at $12.47. The 200-day average was $12.39, signaling a technical milestone for the stock.
• Analyst sentiment is mixed: Weiss Ratings reiterated a "sell (d-)" rating, while MarketBeat data shows an overall Moderate Buy consensus with a $20.50 average target price.
• The company recently reported Q3 earnings of $0.13 per share, topping estimates, though revenue came in below expectations at $206.71 million. CEO John R. Hewitt also sold 36,000 shares in May, and institutional ownership remains high at 78.38%.

Matrix Service Company (NASDAQ:MTRX - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.39 and traded as high as $12.61. Matrix Service shares last traded at $12.47, with a volume of 152,333 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Matrix Service in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $20.50.

Matrix Service Price Performance

The company's 50-day moving average price is $13.04 and its two-hundred day moving average price is $12.39. The company has a market capitalization of $350.78 million, a price-to-earnings ratio of -23.53, a PEG ratio of 1.00 and a beta of 0.98.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $206.71 million for the quarter, compared to analyst estimates of $231.52 million. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. On average, equities research analysts expect that Matrix Service Company will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, CEO John R. Hewitt sold 36,000 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $12.50, for a total transaction of $450,000.00. Following the sale, the chief executive officer owned 581,806 shares in the company, valued at $7,272,575. This represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Matrix Service

A number of institutional investors and hedge funds have recently modified their holdings of MTRX. Quarry LP bought a new stake in shares of Matrix Service in the 3rd quarter valued at $28,000. BNP Paribas Financial Markets lifted its position in shares of Matrix Service by 68.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company's stock valued at $34,000 after acquiring an additional 1,032 shares during the period. Tower Research Capital LLC TRC boosted its stake in Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company's stock worth $45,000 after acquiring an additional 1,893 shares in the last quarter. Aquatic Capital Management LLC bought a new position in Matrix Service during the third quarter worth $67,000. Finally, Daytona Street Capital LLC acquired a new stake in Matrix Service in the fourth quarter worth $78,000. 78.38% of the stock is currently owned by institutional investors.

Matrix Service Company Profile

Matrix Service Company NASDAQ: MTRX is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company's service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.

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