Matrix Service (NASDAQ:MTRX) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Matrix Service Company (NASDAQ:MTRX - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.70 and traded as high as $13.95. Matrix Service shares last traded at $13.63, with a volume of 177,789 shares changing hands.

Matrix Service Stock Down 0.1%

The company has a market cap of $368.88 million, a PE ratio of -16.49, a P/E/G ratio of 1.38 and a beta of 1.05. The firm's fifty day simple moving average is $12.81 and its 200-day simple moving average is $12.73.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). The firm had revenue of $200.16 million during the quarter, compared to analyst estimates of $215.06 million. Matrix Service had a negative net margin of 3.04% and a negative return on equity of 14.08%. On average, analysts predict that Matrix Service Company will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On Matrix Service

A number of institutional investors have recently modified their holdings of the company. CenterBook Partners LP increased its position in Matrix Service by 789.6% during the first quarter. CenterBook Partners LP now owns 536,447 shares of the company's stock worth $6,668,000 after purchasing an additional 476,148 shares during the last quarter. Boston Partners increased its position in Matrix Service by 787.1% during the first quarter. Boston Partners now owns 492,772 shares of the company's stock worth $6,123,000 after purchasing an additional 437,222 shares during the last quarter. ACK Asset Management LLC increased its position in Matrix Service by 47.3% during the fourth quarter. ACK Asset Management LLC now owns 1,179,901 shares of the company's stock worth $14,123,000 after purchasing an additional 378,901 shares during the last quarter. Bank of New York Mellon Corp increased its position in Matrix Service by 244.6% during the first quarter. Bank of New York Mellon Corp now owns 403,385 shares of the company's stock worth $5,014,000 after purchasing an additional 286,326 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Matrix Service by 601.5% during the first quarter. AQR Capital Management LLC now owns 291,804 shares of the company's stock worth $3,627,000 after purchasing an additional 250,206 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Matrix Service Company Profile

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.