Mistras Group (NYSE:MG) Sees Large Volume Increase – Here’s What Happened

Shares of Mistras Group Inc (NYSE:MG) saw strong trading volume on Monday . Approximately 186,934 shares traded hands during trading, a decline of 9% from the previous session’s volume of 206,411 shares.The stock last traded at $20.5980 and had previously closed at $20.75.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Mistras Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Mistras Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.00.

Mistras Group Stock Down 0.6%

The firm has a 50 day simple moving average of $17.83 and a two-hundred day simple moving average of $17.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 1.71. The stock has a market cap of $664.84 million, a P/E ratio of 25.15, a P/E/G ratio of 1.26 and a beta of 0.92.

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

Hedge Funds Weigh In On Mistras Group

Several large investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in Mistras Group in the second quarter worth approximately $296,000. Empowered Funds LLC bought a new position in Mistras Group during the 2nd quarter valued at $3,939,000. Equitable Holdings Inc. acquired a new position in shares of Mistras Group during the 2nd quarter valued at $1,510,000. Public Employees Retirement System of Ohio acquired a new position in shares of Mistras Group during the 2nd quarter valued at $227,000. Finally, Bank of America Corp DE bought a new stake in shares of Mistras Group in the 2nd quarter worth $249,000. Institutional investors and hedge funds own 74.92% of the company’s stock.

About Mistras Group

Mistras Group, Inc (NYSE: MG) is an asset protection and industrial inspection company that helps organizations monitor the condition, safety and performance of critical infrastructure. Its services are designed to identify defects, prevent equipment failures and support regulatory compliance across industrial and infrastructure assets.

The company provides nondestructive testing and inspection, engineering and consulting, mechanical integrity programs, asset monitoring and data-management services.