Short Interest in Matrix Service (NASDAQ:MTRX) Decreases By 16.9%

Matrix Service (NASDAQ:MTRX) experienced a significant decrease in the number of shares being borrowed and sold in August. As of August 15th, there were 131,900 shares being shorted, which is 16.9% lower than the total of 158,800 shares on July 31st. With an average trading volume of 70,000 shares, the current short-interest ratio stands at 1.9 days. This means that it would take around 1.9 days of average trading volume to cover all the short positions. It is worth noting that only approximately 0.5% of the total shares outstanding for the company are currently being short sold.

Matrix Service Stock Increases By 0.9%

The opening price of MTRX stock on Monday was $7.96. Over the past year, Matrix Service has reached a low of $3.31 and a high of $9.52. The 50-day moving average for the company is $6.32, while the 200-day moving average is $5.96. The firm's market capitalization is valued at $215.32 million, with a PE ratio of -5.57 and a beta of 1.58. The company's debt-to-equity ratio stands at 0.08, with a current ratio of 1.37 and a quick ratio of 1.33.

In a separate instance, StockNews.com initiated coverage on Matrix Service shares in a research report on Thursday, August 17th. They assigned a "hold" rating to the company.

Check out our most recent examination of MTRX

Flow Of Funds: Institutional Inflows & Outflows

In recent times, a number of hedge funds have made adjustments to their holdings in the company's stock. Renaissance Technologies LLC increased its ownership in Matrix Service by 1.9% in the last quarter, resulting in a total of 91,000 shares now valued at $566,000. Likewise, Victory Capital Management Inc. raised its stake in Matrix Service by 3.6% during the second quarter, holding 72,223 shares valued at $425,000. Additionally, Geode Capital Management LLC augmented its holdings in Matrix Service by 1.2% in the fourth quarter, now owning 260,448 shares worth $1,619,000. Money Concepts Capital Corp also bolstered its position by 3.4% in the fourth quarter, with holdings of 103,029 shares worth $641,000. Lastly, State Street Corp increased its ownership in Matrix Service by 0.7% in the first quarter, now possessing 487,916 shares valued at $4,011,000. Institutional investors and hedge funds own 98.00% of the stock.

Matrix Service Company offers a range of services including engineering, fabrication, construction, and maintenance to assist in the development of essential energy infrastructure and industrial markets both domestically and internationally. The company operates in various regions such as the United States, Canada, South Korea, Australia, and others. It is divided into three segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

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