Matrix Service (NASDAQ:MTRX) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Matrix Service (NASDAQ:MTRX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.47 and traded as high as $15.20. Matrix Service shares last traded at $15.05, with a volume of 177,634 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Matrix Service from a "hold" rating to a "buy" rating in a research report on Tuesday, December 10th.

Matrix Service Stock Performance

The company has a 50-day moving average of $13.05 and a 200-day moving average of $11.49. The stock has a market capitalization of $414.78 million, a price-to-earnings ratio of -13.44 and a beta of 1.28.

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

Institutional Trading of Matrix Service

A number of hedge funds have recently bought and sold shares of the company. Needham Investment Management LLC lifted its position in Matrix Service by 38.5% during the third quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company's stock worth $16,373,000 after buying an additional 395,000 shares during the period. Portolan Capital Management LLC increased its stake in shares of Matrix Service by 34.3% during the 3rd quarter. Portolan Capital Management LLC now owns 509,059 shares of the company's stock valued at $5,869,000 after acquiring an additional 129,989 shares during the last quarter. Harvey Partners LLC lifted its holdings in shares of Matrix Service by 8.2% during the 3rd quarter. Harvey Partners LLC now owns 1,515,000 shares of the company's stock worth $17,468,000 after acquiring an additional 115,000 shares during the period. Royce & Associates LP boosted its position in shares of Matrix Service by 14.3% in the third quarter. Royce & Associates LP now owns 863,262 shares of the company's stock worth $9,953,000 after acquiring an additional 107,820 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Matrix Service by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company's stock valued at $1,045,000 after purchasing an additional 60,838 shares during the period. Institutional investors and hedge funds own 78.38% of the company's stock.

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.