Short Interest in Matrix Service (NASDAQ:MTRX) Grows By 35.6%

Matrix Service (NASDAQ:MTRX) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 368,900 shares, a growth of 35.6% from the March 31st total of 272,000 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 224,800 shares, the days-to-cover ratio is currently 1.6 days.

Insiders Place Their Bets

In other news, VP Kevin A. Durkin sold 3,900 shares of Matrix Service stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $13.14, for a total value of $51,246.00. Following the completion of the transaction, the vice president now owns 72,231 shares of the company’s stock, valued at approximately $949,115.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Matrix Service news, CEO John R. Hewitt sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $13.25, for a total value of $132,500.00. Following the transaction, the chief executive officer now directly owns 477,891 shares in the company, valued at $6,332,055.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kevin A. Durkin sold 3,900 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $13.14, for a total transaction of $51,246.00. Following the sale, the vice president now owns 72,231 shares of the company’s stock, valued at approximately $949,115.34. The disclosure for this sale can be found here. Insiders have sold 17,800 shares of company stock valued at $233,354 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Matrix Service

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Matrix Service by 222.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,063 shares of the company’s stock worth $40,000 after purchasing an additional 2,802 shares in the last quarter. AJOVista LLC bought a new position in Matrix Service in the fourth quarter valued at about $48,000. Jump Financial LLC acquired a new position in Matrix Service during the third quarter worth about $144,000. Algert Global LLC lifted its holdings in shares of Matrix Service by 17.9% in the third quarter. Algert Global LLC now owns 12,490 shares of the company’s stock worth $147,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Matrix Service in the 4th quarter valued at approximately $126,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of Matrix Service stock opened at $11.36 on Tuesday. Matrix Service has a 52-week low of $4.78 and a 52-week high of $13.90. The stock has a market cap of $310.13 million, a PE ratio of -16.23 and a beta of 1.23. The firm has a 50-day moving average of $12.43 and a 200-day moving average of $11.16.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). Matrix Service had a negative net margin of 2.49% and a negative return on equity of 12.50%. The business had revenue of $175.04 million during the quarter, compared to the consensus estimate of $195.27 million. Equities research analysts predict that Matrix Service will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th.

Matrix Service Company Profile

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.