Matrix Service (NASDAQ:MTRX) Short Interest Update

Matrix Service (NASDAQ:MTRX - Get Free Report) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 373,500 shares, a decrease of 27.4% from the December 15th total of 514,800 shares. Based on an average daily trading volume, of 123,800 shares, the days-to-cover ratio is presently 3.0 days. Approximately 1.4% of the shares of the stock are short sold.

Institutional Trading of Matrix Service

A number of hedge funds and other institutional investors have recently made changes to their positions in MTRX. Verition Fund Management LLC lifted its holdings in Matrix Service by 5.8% in the third quarter. Verition Fund Management LLC now owns 22,639 shares of the company's stock valued at $261,000 after acquiring an additional 1,239 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in Matrix Service by 2.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company's stock valued at $651,000 after purchasing an additional 1,573 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Matrix Service by 4.3% in the 2nd quarter. Victory Capital Management Inc. now owns 69,600 shares of the company's stock valued at $691,000 after purchasing an additional 2,900 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Matrix Service by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company's stock worth $11,644,000 after purchasing an additional 3,215 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Matrix Service by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 37,714 shares of the company's stock worth $374,000 after purchasing an additional 4,452 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Analyst Upgrades and Downgrades

MTRX has been the topic of several research reports. StockNews.com raised shares of Matrix Service from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. DA Davidson reiterated a "buy" rating and issued a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Trading Up 4.0 %

NASDAQ MTRX traded up $0.52 on Wednesday, reaching $13.43. 173,101 shares of the company were exchanged, compared to its average volume of 133,989. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $13.90. The stock has a market capitalization of $370.06 million, a P/E ratio of -11.99 and a beta of 1.28. The business's fifty day moving average price is $12.76 and its 200 day moving average price is $11.21.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.01). Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. The firm had revenue of $165.58 million during the quarter, compared to analysts' expectations of $183.90 million. During the same period in the prior year, the company posted ($0.21) EPS. Equities research analysts forecast that Matrix Service will post -0.04 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.

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