Matrix Service Company (MTRX) Short Interest Update

Matrix Service Company (NASDAQ:MTRX) was the recipient of a significant decline in short interest during the month of September. As of September 29th, there was short interest totalling 1,126,522 shares, a decline of 38.1% from the September 15th total of 1,820,217 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average trading volume of 425,863 shares, the days-to-cover ratio is currently 2.6 days.

A number of equities analysts recently weighed in on MTRX shares. Zacks Investment Research lowered shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 14th. KeyCorp restated a “hold” rating on shares of Matrix Service in a research report on Monday, August 28th. ValuEngine lowered shares of Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Matrix Service from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, TheStreet upgraded shares of Matrix Service from a “d+” rating to a “c-” rating in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has a consensus rating of “Hold”.

Several institutional investors have recently added to or reduced their stakes in MTRX. Mason Street Advisors LLC boosted its stake in shares of Matrix Service by 7.3% during the 1st quarter. Mason Street Advisors LLC now owns 6,219 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 421 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Matrix Service by 1.7% during the 2nd quarter. Capstone Asset Management Co. now owns 13,623 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 230 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Matrix Service by 4.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,793 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 315 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Matrix Service by 22.5% during the 2nd quarter. Voya Investment Management LLC now owns 16,344 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Cullen Capital Management LLC acquired a new stake in shares of Matrix Service during the 2nd quarter worth about $157,000. 85.17% of the stock is currently owned by institutional investors.

Matrix Service (NASDAQ MTRX) opened at 13.65 on Thursday. The firm’s market capitalization is $364.76 million. Matrix Service has a 12-month low of $7.80 and a 12-month high of $23.45. The firm has a 50-day moving average of $14.15 and a 200 day moving average of $11.58.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Wednesday, September 6th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. The firm had revenue of $291.84 million for the quarter, compared to analyst estimates of $281.82 million. During the same period in the prior year, the business earned $0.34 earnings per share. Ma

A number of equities analysts recently weighed in on MTRX shares. Zacks Investment Research lowered shares of Matrix Service from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 14th. KeyCorp restated a “hold” rating on shares of Matrix Service in a research report on Monday, August 28th. ValuEngine lowered shares of Matrix Service from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Matrix Service from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, TheStreet upgraded shares of Matrix Service from a “d+” rating to a “c-” rating in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has a consensus rating of “Hold”.

Several institutional investors have recently added to or reduced their stakes in MTRX. Mason Street Advisors LLC boosted its stake in shares of Matrix Service by 7.3% during the 1st quarter. Mason Street Advisors LLC now owns 6,219 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 421 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Matrix Service by 1.7% during the 2nd quarter. Capstone Asset Management Co. now owns 13,623 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 230 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Matrix Service by 4.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,793 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 315 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Matrix Service by 22.5% during the 2nd quarter. Voya Investment Management LLC now owns 16,344 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Cullen Capital Management LLC acquired a new stake in shares of Matrix Service during the 2nd quarter worth about $157,000. 85.17% of the stock is currently owned by institutional investors.

Matrix Service (NASDAQ MTRX) opened at 13.65 on Thursday. The firm’s market capitalization is $364.76 million. Matrix Service has a 12-month low of $7.80 and a 12-month high of $23.45. The firm has a 50-day moving average of $14.15 and a 200 day moving average of $11.58.

Matrix Service (NASDAQ:MTRX) last released its quarterly earnings results on Wednesday, September 6th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). Matrix Service had a negative return on equity of 0.06% and a negative net margin of 0.02%. The firm had revenue of $291.84 million for the quarter, compared to analyst estimates of $281.82 million. During the same period in the prior year, the business earned $0.34 earnings per share. Matrix Service’s revenue for the quarter was down 18.9% on a year-over-year basis. On average, equities analysts predict that Matrix Service will post $0.60 EPS for the current year.

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About Matrix Service

Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s segments include Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial.

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