Matrix Service (NASDAQ:MTRX) Earns Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of Matrix Service (NASDAQ:MTRX) in a research note released on Thursday, Benzinga reports. The firm currently has a $18.00 price target on the stock.

Separately, StockNews.com downgraded Matrix Service from a buy rating to a hold rating in a report on Wednesday, September 18th.

Matrix Service Stock Up 5.2 %

Shares of NASDAQ MTRX opened at $11.55 on Thursday. Matrix Service has a 52 week low of $8.61 and a 52 week high of $13.90. The business has a 50-day simple moving average of $10.03 and a two-hundred day simple moving average of $10.89. The company has a market cap of $315.42 million, a P/E ratio of -15.20 and a beta of 1.24.

Institutional Trading of Matrix Service

Large investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in shares of Matrix Service in the second quarter valued at about $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Matrix Service in the second quarter valued at about $110,000. Dynamic Technology Lab Private Ltd acquired a new stake in Matrix Service during the fourth quarter worth about $126,000. XTX Topco Ltd increased its position in Matrix Service by 66.3% during the second quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after purchasing an additional 8,344 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in Matrix Service by 38.8% during the fourth quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock worth $281,000 after purchasing an additional 8,059 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Company Profile

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.