Mistras Group (NYSE:MG) Shares Gap Down – Here’s Why

Mistras Group Inc (NYSE:MG) shares gapped down before the market opened on Wednesday . The stock had previously closed at $18.59, but opened at $17.99. Mistras Group shares last traded at $18.3250, with a volume of 7,664 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Roth Capital initiated coverage on shares of Mistras Group in a research note on Thursday, April 30th. They issued a “buy” rating and a $22.00 price objective for the company. Zacks Research cut shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Mistras Group in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Mistras Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Mistras Group currently has an average rating of “Hold” and an average price target of $19.00.

Mistras Group Price Performance

The company’s 50 day moving average price is $16.97 and its 200 day moving average price is $16.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 1.81. The company has a market cap of $551.76 million, a price-to-earnings ratio of 20.89, a P/E/G ratio of 0.94 and a beta of 0.89.

Mistras Group (NYSE:MG) last announced its earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Mistras Group had a net margin of 3.65% and a return on equity of 14.79%. The business had revenue of $193.13 million during the quarter, compared to analysts’ expectations of $189.66 million. On average, equities research analysts predict that Mistras Group Inc will post 1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in Mistras Group during the 1st quarter worth approximately $256,000. Empowered Funds LLC raised its position in Mistras Group by 7.3% in the 1st quarter. Empowered Funds LLC now owns 218,088 shares of the technology company’s stock valued at $2,307,000 after purchasing an additional 14,786 shares during the last quarter. American Century Companies Inc. raised its position in Mistras Group by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 47,498 shares of the technology company’s stock valued at $380,000 after purchasing an additional 9,312 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Mistras Group by 33.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 153,312 shares of the technology company’s stock worth $1,228,000 after purchasing an additional 38,366 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Mistras Group by 141.7% in the second quarter. Qube Research & Technologies Ltd now owns 111,824 shares of the technology company’s stock worth $896,000 after purchasing an additional 65,551 shares in the last quarter. Institutional investors own 74.92% of the company’s stock.

Mistras Group Company Profile

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.