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

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

Separately, DA Davidson reiterated a “buy” rating and set a $18.00 price objective on shares of Matrix Service in a report on Tuesday, September 10th.

Matrix Service Stock Up 4.3 %

Shares of NASDAQ:MTRX opened at $10.80 on Wednesday. The business has a fifty day simple moving average of $9.87 and a 200-day simple moving average of $10.95. Matrix Service has a 52 week low of $8.61 and a 52 week high of $13.90. The company has a market cap of $294.94 million, a P/E ratio of -14.21, a P/E/G ratio of 3.19 and a beta of 1.24.

Hedge Funds Weigh In On Matrix Service

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings 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 purchasing an additional 1,700 shares in the last quarter. Jump Financial LLC boosted its position in shares of Matrix Service by 338.7% in the fourth quarter. Jump Financial LLC now owns 53,381 shares of the company’s stock worth $522,000 after buying an additional 41,212 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Matrix Service in the fourth quarter worth about $126,000. Trexquant Investment LP acquired a new stake in shares of Matrix Service in the fourth quarter valued at about $317,000. Finally, Quadrature Capital Ltd raised its holdings in shares of Matrix Service by 38.8% during the 4th quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock valued at $281,000 after buying an additional 8,059 shares during the period. Institutional investors and hedge funds 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.