Matrix Service (MTRX) Short Interest Up 45.1% in March

Matrix Service (NASDAQ:MTRX) was the recipient of a significant increase in short interest during the month of March. As of March 29th, there was short interest totalling 816,813 shares, an increase of 45.1% from the March 15th total of 562,967 shares. Based on an average trading volume of 223,572 shares, the short-interest ratio is currently 3.7 days. Currently, 3.2% of the shares of the stock are short sold.

A number of institutional investors have recently added to or reduced their stakes in MTRX. SG Americas Securities LLC bought a new position in Matrix Service in the third quarter valued at about $138,000. Brandywine Global Investment Management LLC bought a new position in Matrix Service in the fourth quarter valued at about $182,000. BNP Paribas Arbitrage SA grew its holdings in shares of Matrix Service by 69.5% during the third quarter. BNP Paribas Arbitrage SA now owns 13,590 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 5,571 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of Matrix Service during the fourth quarter worth about $236,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Matrix Service during the fourth quarter worth about $253,000. Hedge funds and other institutional investors own 91.49% of the company’s stock.

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Matrix Service stock opened at $15.45 on Monday. Matrix Service has a 12-month low of $7.80 and a 12-month high of $20.25. The company has a current ratio of 1.99, a quick ratio of 1.96 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $411.64, a price-to-earnings ratio of -1,545.00 and a beta of 0.87.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 7th. The oil and gas company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. Matrix Service had a negative return on equity of 1.97% and a negative net margin of 0.59%. The firm had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $298.43 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. equities analysts anticipate that Matrix Service will post 0.65 earnings per share for the current fiscal year.

A number of research firms have issued reports on MTRX. BidaskClub upgraded Matrix Service from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. ValuEngine upgraded Matrix Service from a “sell” rating to a “hold” rating in a research report on Tuesday, April 3rd. Finally, Zacks Investment Research cut Matrix Service from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.00.

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Matrix Service Company Profile

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, and mining and minerals markets in the United States, Canada, and internationally. The company's Electrical Infrastructure segment offers construction and maintenance services to various power generation facilities, such as combined cycle plants, natural gas fired power stations, and renewable energy installations; and high voltage services comprising the construction of new substations, upgrading existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services to investor owned utilities.

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