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

StockNews.com upgraded shares of Matrix Service (NASDAQ:MTRXGet Rating) from a sell rating to a hold rating in a report published on Monday.

Separately, Guggenheim raised shares of Matrix Service from a neutral rating to a buy rating in a research note on Friday, May 20th.

Shares of Matrix Service stock opened at $5.54 on Monday. The firm has a market cap of $148.42 million, a P/E ratio of -1.68 and a beta of 1.68. The firm has a 50 day simple moving average of $6.19 and a 200 day simple moving average of $7.07. Matrix Service has a fifty-two week low of $4.80 and a fifty-two week high of $11.76.

Matrix Service (NASDAQ:MTRXGet Rating) last issued its quarterly earnings results on Monday, May 9th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.27). The company had revenue of $177.00 million during the quarter. Matrix Service had a negative net margin of 12.92% and a negative return on equity of 19.82%. Equities analysts anticipate that Matrix Service will post -1.9 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MTRX. Alpha Paradigm Partners LLC bought a new position in Matrix Service in the fourth quarter valued at approximately $47,000. Metropolitan Life Insurance Co NY bought a new position in shares of Matrix Service during the third quarter worth $75,000. Allspring Global Investments Holdings LLC bought a new position in shares of Matrix Service during the fourth quarter worth $87,000. Hsbc Holdings PLC bought a new position in shares of Matrix Service during the first quarter worth $109,000. Finally, PDT Partners LLC bought a new position in shares of Matrix Service during the first quarter worth $112,000. 88.69% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Company Profile (Get Rating)

Matrix Service Company provides engineering, fabrication, infrastructure, construction, and maintenance services primarily to the oil, gas, power, petrochemical, industrial, agricultural, mining, and minerals markets in the United States, Canada, South Korea, Australia, and internationally. It operates through three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

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