Mistras Group (NYSE:MG) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Mistras Group Inc (NYSE:MG) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.62 and traded as high as $12.87. Mistras Group shares last traded at $12.74, with a volume of 670,028 shares trading hands.

Analyst Upgrades and Downgrades

MG has been the subject of a number of research reports. UBS Group set a $16.00 price objective on Mistras Group in a report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Mistras Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Mistras Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Mistras Group presently has an average rating of “Hold” and an average price target of $16.00.

Mistras Group Price Performance

The firm has a fifty day moving average price of $11.30 and a two-hundred day moving average price of $9.63. The company has a quick ratio of 1.77, a current ratio of 1.89 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $401.95 million, a P/E ratio of 21.97, a P/E/G ratio of 0.96 and a beta of 1.01.

Mistras Group (NYSE:MG) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.26 by $0.20. The company had revenue of $195.55 million for the quarter, compared to the consensus estimate of $189.94 million. Mistras Group had a net margin of 2.55% and a return on equity of 13.10%. On average, analysts expect that Mistras Group Inc will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Mistras Group

A number of hedge funds have recently added to or reduced their stakes in the company. Acuitas Investments LLC lifted its position in Mistras Group by 51.7% in the 3rd quarter. Acuitas Investments LLC now owns 643,483 shares of the technology company’s stock valued at $6,332,000 after acquiring an additional 219,421 shares in the last quarter. Millennium Management LLC raised its stake in shares of Mistras Group by 48.9% in the third quarter. Millennium Management LLC now owns 357,513 shares of the technology company’s stock worth $3,518,000 after purchasing an additional 117,334 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of Mistras Group during the third quarter valued at $4,650,000. Bank of America Corp DE boosted its position in shares of Mistras Group by 397.1% during the third quarter. Bank of America Corp DE now owns 112,560 shares of the technology company’s stock valued at $1,108,000 after buying an additional 89,916 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Mistras Group by 17.9% during the third quarter. Raymond James Financial Inc. now owns 16,717 shares of the technology company’s stock valued at $164,000 after buying an additional 2,544 shares during the last quarter. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

About Mistras Group

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.