M-tron Industries (NYSEAMERICAN:MPTI) Shares Climb 3.8% - What's Next?

Key Points

• M-tron Industries shares rose 3.8% to $67.66 in midday trading, reaching a high of $68.46, though volume was 16% below its average.
• Zacks Research upgraded the stock from “strong sell” to “hold”; with two analysts rating it a Hold, the overall analyst consensus is also Hold.
• The company’s latest quarter included an EPS miss of $0.43 versus the $0.53 consensus, while revenue of $15.11 million exceeded estimates; institutional investors and hedge funds own 23.31% of the shares.

M-tron Industries, Inc. (NYSEAMERICAN:MPTI - Get Free Report) shot up 3.8% during mid-day trading on Monday. The company traded as high as $68.46 and last traded at $67.66. Approximately 71,050 shares were traded during trading, a decline of 16% from the average session volume of 85,036 shares. The stock had previously closed at $65.21.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of M-tron Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, M-tron Industries presently has an average rating of "Hold".

M-tron Industries Stock Performance

The stock has a market cap of $294.32 million, a price-to-earnings ratio of 24.87, a PEG ratio of 1.20 and a beta of 0.75. The firm's 50-day simple moving average is $74.81 and its two-hundred day simple moving average is $74.88.

M-tron Industries (NYSEAMERICAN:MPTI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.10). The firm had revenue of $15.11 million during the quarter, compared to analyst estimates of $14.75 million. M-tron Industries had a return on equity of 13.03% and a net margin of 16.35%. Equities research analysts expect that M-tron Industries, Inc. will post 2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On M-tron Industries

Several large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue raised its position in shares of M-tron Industries by 43.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 865 shares of the company's stock valued at $67,000 after acquiring an additional 262 shares during the last quarter. IFP Advisors Inc boosted its position in shares of M-tron Industries by 88.9% in the 2nd quarter. IFP Advisors Inc now owns 444 shares of the company's stock worth $44,000 after purchasing an additional 209 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of M-tron Industries in the 2nd quarter worth $937,000. Grandeur Peak Global Advisors LLC boosted its position in shares of M-tron Industries by 11.5% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 56,681 shares of the company's stock worth $5,620,000 after purchasing an additional 5,833 shares during the last quarter. Finally, Concorde Asset Management LLC bought a new position in shares of M-tron Industries in the 2nd quarter worth $974,000. 23.31% of the stock is currently owned by institutional investors and hedge funds.

About M-tron Industries

M-tron Industries, Inc designs and manufactures highly engineered electronic components used in frequency control, spectrum control and related applications. Its products include quartz crystals, crystal oscillators, crystal filters, radio-frequency and microwave filters, electromagnetic interference filters, and customized frequency-control modules.

The company serves customers in the aerospace, defense, space, telecommunications and industrial markets. Its components are used in applications such as radar, electronic warfare, satellite communications, avionics, navigation and other systems that require precise timing, signal control or protection from electromagnetic interference.

M-tron Industries operates through its MtronPTI business and provides products to customers in the United States and international markets.

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