Matrix Service (NASDAQ:MTRX) Short Interest Up 42.1% in March

Matrix Service (NASDAQ:MTRX - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 504,200 shares, a growth of 42.1% from the March 15th total of 354,700 shares. Based on an average daily volume of 229,500 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.9% of the company's shares are sold short.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. DA Davidson lifted their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the company 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.

Institutional Investors Weigh In On Matrix Service

A number of institutional investors have recently added to or reduced their stakes in MTRX. Tower Research Capital LLC TRC grew its position in shares of Matrix Service by 180.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company's stock worth $32,000 after buying an additional 1,746 shares during the last quarter. R Squared Ltd acquired a new position in shares of Matrix Service during the fourth quarter worth $45,000. Legal & General Group Plc lifted its holdings in shares of Matrix Service by 29.6% during the 4th quarter. Legal & General Group Plc now owns 8,236 shares of the company's stock valued at $99,000 after purchasing an additional 1,881 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Matrix Service during the 4th quarter worth $99,000. Finally, BNP Paribas Financial Markets raised its stake in Matrix Service by 112.9% in the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company's stock valued at $106,000 after buying an additional 4,860 shares during the last quarter. Institutional investors own 78.38% of the company's stock.

Matrix Service Stock Up 2.8 %

NASDAQ:MTRX traded up $0.31 during mid-day trading on Thursday, reaching $11.42. The company's stock had a trading volume of 18,019 shares, compared to its average volume of 210,529. The firm has a market capitalization of $315.24 million, a PE ratio of -9.34 and a beta of 1.01. The stock has a fifty day moving average of $12.07 and a 200-day moving average of $12.59. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75.

Matrix Service (NASDAQ:MTRX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. On average, analysts expect 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.