Mistras Group, Inc. (NYSE:MG) Short Interest Up 58.6% in March

Mistras Group, Inc. (NYSE:MG - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 345,200 shares, an increase of 58.6% from the March 15th total of 217,600 shares. Based on an average daily volume of 147,200 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.9% of the company's stock are sold short.

Mistras Group Stock Down 3.9 %

Shares of MG traded down $0.36 during midday trading on Monday, reaching $8.96. The stock had a trading volume of 136,100 shares, compared to its average volume of 126,750. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.68 and a quick ratio of 1.55. The company's fifty day simple moving average is $9.88 and its two-hundred day simple moving average is $9.76. The company has a market cap of $280.50 million, a price-to-earnings ratio of 25.60, a PEG ratio of 0.73 and a beta of 1.34. Mistras Group has a 1-year low of $7.45 and a 1-year high of $12.44.

Insider Activity

In related news, Director Nicholas Debenedictis bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was purchased at an average cost of $9.84 per share, for a total transaction of $98,400.00. Following the completion of the acquisition, the director now owns 217,511 shares in the company, valued at approximately $2,140,308.24. This trade represents a 4.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.30% of the company's stock.

Institutional Trading of Mistras Group

A number of institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new stake in shares of Mistras Group during the 4th quarter worth about $50,000. Mackenzie Financial Corp acquired a new stake in Mistras Group during the fourth quarter worth approximately $126,000. Public Employees Retirement System of Ohio lifted its position in shares of Mistras Group by 19.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,983 shares of the technology company's stock worth $136,000 after buying an additional 2,400 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Mistras Group by 75.1% in the 4th quarter. Squarepoint Ops LLC now owns 67,820 shares of the technology company's stock valued at $614,000 after buying an additional 29,086 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Mistras Group in the 4th quarter valued at $96,000. 74.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Mistras Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th.

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.