Mistras Group (NYSE:MG) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Mistras Group Inc (NYSE:MG)’s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $17.94 and traded as high as $20.86. Mistras Group shares last traded at $20.7940, with a volume of 371,102 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MG shares. Wall Street Zen downgraded Mistras Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised Mistras Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Mistras Group Stock Up 0.0%

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.58. The company has a market cap of $659.29 million, a P/E ratio of 24.94, a PEG ratio of 1.25 and a beta of 0.90. The business’s 50 day moving average price is $19.66 and its 200-day moving average price is $18.02.

Mistras Group (NYSE:MG) last released its earnings results on Monday, August 10th. The technology company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. The company had revenue of $193.13 million during the quarter, compared to analysts’ expectations of $189.66 million. On average, analysts anticipate that Mistras Group Inc will post 1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in Mistras Group by 84.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,258 shares of the technology company’s stock worth $68,000 after buying an additional 1,493 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Mistras Group in the second quarter valued at about $296,000. Empowered Funds LLC acquired a new position in Mistras Group in the second quarter valued at about $3,939,000. Equitable Holdings Inc. acquired a new position in Mistras Group in the second quarter valued at about $1,510,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Mistras Group in the second quarter worth about $227,000. Institutional investors and hedge funds own 74.92% of the company’s stock.

Mistras Group Company Profile

MISTRAS Group, Inc (NYSE: MG) is an asset protection and industrial inspection company that helps organizations monitor the safety, reliability and integrity of critical infrastructure. Its services support industries including oil and gas, power generation, aerospace and defense, chemicals, transportation, infrastructure and manufacturing.

The company provides nondestructive testing (NDT), inspection, engineering, mechanical integrity and asset monitoring services. Its capabilities include acoustic emission testing, ultrasonic testing, radiography, visual inspection, rope access, corrosion assessment and structural health monitoring.