Shares of Matrix Service Under Pressure, Down 1.6%

Published on Fri, 04/24/2015 - 12:03
By Adrienne Chilton in Market movers, MTRX, market movers, matrix service, nasdaq:mtrx

Down 1.2% to $22.25, Matrix Service (NASDAQ:MTRX), is one of today's notable movers. The S&P is trading higher by 0.2% to 2,118 and the Dow is trading fractionally higher to 18,071.

Matrix Service share prices have moved between a 52-week high of $38.71 and a 52-week low of $12.52 and are now trading 78% above that low price at $22.25 per share. The 200-day and 50-day moving averages have moved 0.83% lower and 1.40% higher over the past week, respectively.

Matrix Service Company provides specialized on-site maintenance and construction services for petroleum refining and storage facilities, as well as water storage facilities for the private industry sector. The Company's services include the maintenance, inspection, design, repair, and construction of aboveground storage tanks.

There is potential upside of 8.6% for shares of Matrix Service based on a current price of $22.25 and an average consensus analyst price target of $24.17. The stock should hit resistance at its 200-day moving average (MA) of $22.70, as well as support at its 50-day MA of $19.18.

By Adrienne Chilton
achilton@fnno.com

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