Matrix Service (NASDAQ:MTRX) Rating Lowered to Hold at StockNews.com

Matrix Service (NASDAQ:MTRX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, DA Davidson restated a “buy” rating and set a $18.00 target price on shares of Matrix Service in a research note on Tuesday, September 10th.

Matrix Service Stock Up 4.3 %

Shares of MTRX opened at $10.80 on Wednesday. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $13.90. The firm’s 50 day moving average price is $9.87 and its 200 day moving average price is $10.95. The company has a market cap of $294.94 million, a P/E ratio of -14.21, a PEG ratio of 3.19 and a beta of 1.24.

Hedge Funds Weigh In On Matrix Service

Several hedge funds have recently made changes to their positions in MTRX. Victory Capital Management Inc. increased its position in Matrix Service by 2.5% in the 4th quarter. Victory Capital Management Inc. now owns 69,400 shares of the company’s stock valued at $679,000 after acquiring an additional 1,700 shares during the period. Jump Financial LLC raised its holdings in Matrix Service by 338.7% during the fourth quarter. Jump Financial LLC now owns 53,381 shares of the company’s stock worth $522,000 after purchasing an additional 41,212 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Matrix Service in the fourth quarter valued at approximately $126,000. Trexquant Investment LP acquired a new position in shares of Matrix Service during the 4th quarter worth $317,000. Finally, Quadrature Capital Ltd grew 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 buying an additional 8,059 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

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.