Mistras Group (NYSE:MG) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Shares of Mistras Group Inc (NYSE:MG - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.78 and traded as high as $9.83. Mistras Group shares last traded at $9.65, with a volume of 77,392 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MG shares. Wall Street Zen raised Mistras Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Mistras Group in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Mistras Group has an average rating of "Hold".

Mistras Group Stock Performance

The stock has a market cap of $304.36 million, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.27. The company has a quick ratio of 1.54, a current ratio of 1.66 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $9.33 and a two-hundred day moving average price of $8.78.

Mistras Group (NYSE:MG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Mistras Group had a return on equity of 9.37% and a net margin of 1.64%.The business had revenue of $185.41 million during the quarter, compared to the consensus estimate of $186.43 million. On average, sell-side analysts forecast that Mistras Group Inc will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Mistras Group

In related news, EVP Eileen Mary Coggins bought 15,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average price of $9.55 per share, for a total transaction of $143,250.00. Following the completion of the transaction, the executive vice president owned 15,000 shares in the company, valued at $143,250. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acuitas Investments LLC boosted its stake in Mistras Group by 45.1% during the first quarter. Acuitas Investments LLC now owns 424,062 shares of the technology company's stock valued at $4,487,000 after buying an additional 131,798 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Mistras Group by 2.8% during the second quarter. Bridgeway Capital Management LLC now owns 418,737 shares of the technology company's stock valued at $3,354,000 after buying an additional 11,599 shares during the last quarter. CSM Advisors LLC bought a new position in shares of Mistras Group during the 2nd quarter valued at approximately $2,917,000. Invesco Ltd. boosted its position in shares of Mistras Group by 521.1% during the 1st quarter. Invesco Ltd. now owns 289,838 shares of the technology company's stock valued at $3,066,000 after acquiring an additional 243,175 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Mistras Group by 7.3% during the 1st quarter. Empowered Funds LLC now owns 218,088 shares of the technology company's stock valued at $2,307,000 after acquiring an additional 14,786 shares during the last quarter. Institutional investors own 74.92% of the company's stock.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.

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