Mistras Group, Inc. (NYSE:MG) Sees Significant Drop in Short Interest

Mistras Group, Inc. (NYSE:MG - Get Free Report) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 175,900 shares, a drop of 21.7% from the December 31st total of 224,700 shares. Approximately 1.0% of the company's shares are sold short. Based on an average trading volume of 146,400 shares, the short-interest ratio is currently 1.2 days.

Mistras Group Trading Down 1.2 %

Mistras Group stock traded down $0.12 during trading on Friday, reaching $9.94. The company had a trading volume of 102,707 shares, compared to its average volume of 117,170. The firm has a market capitalization of $308.18 million, a price-to-earnings ratio of 28.39, a PEG ratio of 0.72 and a beta of 1.77. The stock's 50 day moving average price is $9.24 and its two-hundred day moving average price is $10.08. Mistras Group has a 12-month low of $7.45 and a 12-month high of $12.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.55 and a current ratio of 1.68.

Mistras Group (NYSE:MG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.06). The firm had revenue of $182.69 million for the quarter, compared to analysts' expectations of $185.04 million. Mistras Group had a net margin of 1.52% and a return on equity of 9.32%. During the same period last year, the firm posted $0.18 EPS. As a group, equities analysts expect that Mistras Group will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. raised its position in Mistras Group by 27.6% in the second quarter. American Century Companies Inc. now owns 14,536 shares of the technology company's stock valued at $121,000 after purchasing an additional 3,143 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Mistras Group by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,311,715 shares of the technology company's stock valued at $10,874,000 after purchasing an additional 44,550 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Mistras Group by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 104,900 shares of the technology company's stock valued at $870,000 after buying an additional 11,100 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Mistras Group in the third quarter worth $907,000. Finally, Assenagon Asset Management S.A. raised its holdings in Mistras Group by 43.1% in the third quarter. Assenagon Asset Management S.A. now owns 97,808 shares of the technology company's stock valued at $1,112,000 after acquiring an additional 29,457 shares in the last quarter. 74.92% of the stock is owned by institutional investors and hedge funds.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.