Matrix Service (NASDAQ:MTRX) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Shares of Matrix Service Company (NASDAQ:MTRX - Get Free Report) crossed 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 traded.

Matrix Service Stock Down 1.7%

The stock has a market cap of $376.34 million, a price-to-earnings ratio of -16.83, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05. The firm's 50 day moving average is $12.69 and its two-hundred day moving average is $12.70.

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

Institutional Investors Weigh In On Matrix Service

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Matrix Service by 66.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company's stock valued at $3,315,000 after purchasing an additional 110,641 shares in the last quarter. American Century Companies Inc. grew its position in Matrix Service by 523.3% in the 4th quarter. American Century Companies Inc. now owns 294,889 shares of the company's stock worth $3,530,000 after purchasing an additional 247,578 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of Matrix Service during the 4th quarter valued at about $722,000. Russell Investments Group Ltd. boosted its position in shares of Matrix Service by 21.6% during the 4th quarter. Russell Investments Group Ltd. now owns 245,828 shares of the company's stock valued at $2,943,000 after acquiring an additional 43,612 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Matrix Service by 355.1% during the 4th quarter. WINTON GROUP Ltd now owns 80,199 shares of the company's stock valued at $960,000 after acquiring an additional 62,578 shares in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

About Matrix Service

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.

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