Mistras Group (NYSE:MG) Stock Price Crosses Below 50 Day Moving Average - Should You Sell?

Key Points

• Mistras Group shares fell below their 50-day moving average, trading as low as $20.15 versus the $20.29 average, with approximately 882,946 shares changing hands.
• Analysts maintain a generally positive view, with two Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation. However, the average price target of $19.00 is below the recent trading price.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.28 versus $0.24 expected and revenue of $193.13 million versus $189.66 million estimated. Institutional investors own 74.92% of the stock.

Mistras Group Inc (NYSE:MG - Get Free Report) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $20.29 and traded as low as $20.15. Mistras Group shares last traded at $20.2150, with a volume of 882,946 shares.

Analyst Ratings Changes

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

Mistras Group Stock Performance

The company has a market cap of $643.85 million, a P/E ratio of 24.36, a PEG ratio of 1.23 and a beta of 0.90. The company has a 50 day moving average price of $20.29 and a 200-day moving average price of $17.27. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.75.

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

Institutional Trading of Mistras Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming grew 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 worth $261,000 after purchasing an additional 8,294 shares during the last quarter. Ellsworth Advisors LLC lifted its stake in Mistras Group by 2.8% during the third quarter. Ellsworth Advisors LLC now owns 43,520 shares of the technology company's stock valued at $917,000 after purchasing an additional 1,204 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in 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 last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Mistras Group during the second quarter valued at approximately $296,000. Finally, Empowered Funds LLC bought a new stake in Mistras Group during the second quarter worth approximately $3,939,000. 74.92% of the stock is currently owned by institutional investors.

About Mistras Group

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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