Mistras Group, Inc. (NYSE:MG) Short Interest Down 22.5% in May

Mistras Group, Inc. (NYSE:MG) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 93,800 shares, a decline of 22.5% from the May 15th total of 121,100 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 65,700 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MG. TheStreet upgraded Mistras Group from a “d+” rating to a “c-” rating in a report on Tuesday, February 27th. Singular Research reaffirmed a “buy” rating on shares of Mistras Group in a research note on Tuesday, May 7th.

Hedge Funds Weigh In On Mistras Group

Several hedge funds and other institutional investors have recently modified their holdings of MG. Public Employees Retirement System of Ohio grew its stake in Mistras Group by 157.6% in the third quarter. Public Employees Retirement System of Ohio now owns 4,740 shares of the technology company’s stock worth $26,000 after purchasing an additional 2,900 shares during the period. SG Americas Securities LLC bought a new position in shares of Mistras Group in the 4th quarter worth about $85,000. Victory Capital Management Inc. purchased a new stake in Mistras Group in the fourth quarter worth about $106,000. Mackenzie Financial Corp increased its stake in shares of Mistras Group by 19.8% during the fourth quarter. Mackenzie Financial Corp now owns 17,798 shares of the technology company’s stock valued at $130,000 after purchasing an additional 2,936 shares in the last quarter. Finally, Heron Bay Capital Management lifted its holdings in shares of Mistras Group by 43.0% during the first quarter. Heron Bay Capital Management now owns 14,907 shares of the technology company’s stock valued at $143,000 after purchasing an additional 4,479 shares during the last quarter. Hedge funds and other institutional investors own 74.92% of the company’s stock.

Mistras Group Trading Down 3.5 %

MG traded down $0.29 during midday trading on Friday, reaching $8.05. 37,978 shares of the company’s stock traded hands, compared to its average volume of 41,323. The stock has a market capitalization of $249.31 million, a price-to-earnings ratio of -21.18 and a beta of 1.70. Mistras Group has a 52 week low of $4.96 and a 52 week high of $9.85. The firm has a fifty day moving average of $8.81 and a two-hundred day moving average of $8.32. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.63 and a quick ratio of 1.50.

Mistras Group (NYSE:MG) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.07 EPS for the quarter. The company had revenue of $184.44 million during the quarter. Mistras Group had a positive return on equity of 6.28% and a negative net margin of 1.59%. On average, equities analysts anticipate that Mistras Group will post 0.72 earnings per share for the current fiscal year.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.