Matrix Service (NASDAQ:MTRX) Sees Significant Increase in Short Interest

Matrix Service (NASDAQ:MTRX - Get Free Report) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 474,600 shares, an increase of 32.9% from the January 31st total of 357,100 shares. Based on an average daily trading volume, of 173,500 shares, the short-interest ratio is currently 2.7 days. Currently, 1.8% of the shares of the stock are sold short.

Matrix Service Price Performance

MTRX traded down $0.24 during trading hours on Friday, reaching $11.78. The company's stock had a trading volume of 199,061 shares, compared to its average volume of 216,133. The stock has a market cap of $325.21 million, a PE ratio of -9.66 and a beta of 1.11. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $15.75. The business's 50-day moving average is $13.59 and its 200-day moving average is $12.32.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate 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%. Analysts expect that Matrix Service will post -0.26 EPS for the current year.

Analysts Set New Price Targets

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

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Institutional Trading of Matrix Service

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of Matrix Service by 40.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 16,252 shares of the company's stock valued at $195,000 after buying an additional 4,644 shares in the last quarter. State of Wyoming grew its holdings in shares of Matrix Service by 557.4% in the fourth quarter. State of Wyoming now owns 35,224 shares of the company's stock valued at $422,000 after purchasing an additional 29,866 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Matrix Service by 14.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 155,437 shares of the company's stock worth $1,861,000 after buying an additional 19,923 shares during the period. Deutsche Bank AG increased its stake in Matrix Service by 49.7% during the 4th quarter. Deutsche Bank AG now owns 30,544 shares of the company's stock worth $366,000 after buying an additional 10,142 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Matrix Service during the 4th quarter worth approximately $120,000. Hedge funds and other institutional investors own 78.38% of the company's stock.

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.