Short Interest in Matrix Service (NASDAQ:MTRX) Decreases By 13.2%

Matrix Service (NASDAQ:MTRX - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 411,900 shares, a decline of 13.2% from the February 13th total of 474,600 shares. Based on an average trading volume of 193,600 shares, the short-interest ratio is currently 2.1 days. Currently, 1.6% of the company's shares are short sold.

Wall Street Analyst Weigh In

MTRX has been the subject of several recent analyst reports. DA Davidson increased their price target on Matrix Service from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. StockNews.com cut Matrix Service from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th.

Hedge Funds Weigh In On Matrix Service

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in Matrix Service by 4.3% during the third quarter. Victory Capital Management Inc. now owns 72,587 shares of the company's stock worth $837,000 after purchasing an additional 2,987 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Matrix Service by 44.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,302 shares of the company's stock worth $1,917,000 after buying an additional 51,433 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Matrix Service by 2.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company's stock valued at $651,000 after acquiring an additional 1,573 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Matrix Service by 112.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company's stock valued at $106,000 after acquiring an additional 4,860 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Matrix Service by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,519 shares of the company's stock valued at $179,000 after acquiring an additional 8,744 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

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Matrix Service Stock Down 4.6 %

MTRX traded down $0.60 during trading on Friday, hitting $12.49. The company had a trading volume of 711,599 shares, compared to its average volume of 204,515. The company has a market capitalization of $344.81 million, a PE ratio of -10.24 and a beta of 1.11. Matrix Service has a one year low of $8.61 and a one year high of $15.75. The firm's 50-day moving average price is $13.64 and its 200 day moving average price is $12.57.

Matrix Service (NASDAQ:MTRX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. Sell-side analysts forecast that Matrix Service will post -0.26 earnings per share for the current year.

About Matrix Service

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.