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

StockNews.com downgraded shares of Matrix Service (NASDAQ:MTRX) from a buy rating to a hold rating in a research note released on Wednesday.

Separately, DA Davidson reaffirmed a buy rating and issued a $18.00 price objective on shares of Matrix Service in a research report on Tuesday, September 10th.

Matrix Service Price Performance

MTRX opened at $11.29 on Wednesday. The company’s 50-day moving average is $9.91 and its 200 day moving average is $10.93. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $13.90. The firm has a market capitalization of $308.32 million, a P/E ratio of -14.86, a PEG ratio of 3.19 and a beta of 1.24.

Institutional Trading of Matrix Service

Several hedge funds have recently added to or reduced their stakes in MTRX. The Manufacturers Life Insurance Company purchased a new position in shares of Matrix Service in the second quarter worth about $110,000. Bank of Montreal Can increased its stake in shares of Matrix Service by 195.2% in the second quarter. Bank of Montreal Can now owns 48,117 shares of the company’s stock worth $483,000 after purchasing an additional 31,817 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Matrix Service by 66.3% in 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 in the last quarter. Renaissance Technologies LLC increased its stake in shares of Matrix Service by 4.6% in the second quarter. Renaissance Technologies LLC now owns 203,700 shares of the company’s stock worth $2,023,000 after purchasing an additional 8,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Matrix Service by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company’s stock worth $11,644,000 after purchasing an additional 3,215 shares in the last quarter. 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.