Mistras Group (NYSE:MG) Sees Large Volume Increase - Here's What Happened

Key Points

• Mistras Group’s trading volume surged 104% to approximately 468,853 shares, while the stock fell 1.3% to $20.215.
• Analysts maintain a consensus “Moderate Buy” rating, though the average price target is $19.00, below the recent trading price.
• The company exceeded quarterly expectations, reporting $0.28 EPS versus a $0.24 consensus estimate and revenue of $193.13 million versus $189.66 million expected; institutional investors own nearly 75% of its shares.

Mistras Group Inc (NYSE:MG - Get Free Report) shares saw strong trading volume on Thursday. Approximately 468,853 shares changed hands during trading, an increase of 104% from the average daily volume of 229,331 shares. The stock last traded at $20.2150 and had previously closed at $20.47.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MG shares. Wall Street Zen downgraded shares of Mistras Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Mistras Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, October 13th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Mistras Group Trading Down 1.3%

The business's 50-day simple moving average is $20.27 and its 200-day simple moving average is $17.24. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The company has a market cap of $643.53 million, a PE ratio of 24.34, a P/E/G ratio of 1.29 and a beta of 0.90.

Mistras Group (NYSE:MG - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. The company had revenue of $193.13 million during the quarter, compared to the consensus estimate of $189.66 million. As a group, analysts expect that Mistras Group Inc will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State of Wyoming lifted its stake in shares of Mistras Group by 202.9% in the 3rd quarter. State of Wyoming now owns 12,381 shares of the technology company's stock valued at $261,000 after acquiring an additional 8,294 shares during the last quarter. Ellsworth Advisors LLC grew its position in shares of Mistras Group by 2.8% during the 3rd quarter. Ellsworth Advisors LLC now owns 43,520 shares of the technology company's stock worth $917,000 after buying an additional 1,204 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Mistras Group by 84.6% during the third quarter. State of Alaska Department of Revenue now owns 3,258 shares of the technology company's stock valued at $68,000 after purchasing an additional 1,493 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Mistras Group in the second quarter valued at approximately $296,000. Finally, Empowered Funds LLC acquired a new position in shares of Mistras Group during the second quarter valued at about $3,939,000. Institutional investors and hedge funds own 74.92% of the company's stock.

Mistras Group Company Profile

Mistras Group, Inc provides asset protection and industrial inspection services designed to help companies monitor the condition, safety and performance of critical infrastructure. The company combines nondestructive testing, inspection, engineering, monitoring and data-management capabilities to identify defects and support maintenance decisions without interrupting the operation of industrial assets.

Its services and technologies include nondestructive testing and examination, mechanical integrity programs, acoustic-emission testing, structural health monitoring, rope access, remote visual inspection and other specialized inspection techniques.

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