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A company insider recently sold 3,900 shares of Matrix Service Co. [MTRX]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Matrix Service Co. shares valued at $51,250 were sold by DURKIN KEVIN A on Mar 22 ’24. At $13.14 per share, DURKIN KEVIN A sold 3,900 shares. The insider’s holdings dropped to 72,231 shares worth approximately $0.77 million following the completion of this transaction.

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Also, HEWITT JOHN R sold 10,000 shares, netting a total of over 132,502 in proceeds. Following the sale of shares at $13.25 each, the insider now holds 477,891 shares.

Before that, DURKIN KEVIN A had sold 3,900 shares from its account. In a trade valued at $49,608, the VP Chief Bus Dev/Strat Officer traded Matrix Service Co. shares for $12.72 each. Upon closing the transaction, the insider’s holdings decreased to 3,900 shares, worth approximately $0.81 million.

As published in a research note from Sidoti on February 19, 2020, Matrix Service Co. [MTRX] has been rated up from a Neutral to a Buy and the price target has been revised to $20. Analysts at Sidoti downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of August 07, 2019, DA Davidson has increased its “Neutral” rating to a “Buy” for MTRX. Earlier on March 13, 2019, DA Davidson initiated its rating. Their recommendation was “a Neutral” for MTRX stock.

Analyzing MTRX Stock Performance

During the last five days, there has been a drop of approximately -8.04%. Over the course of the year, Matrix Service Co. shares have jumped approximately 8.79%. Shares of the company reached a 52-week high of $13.90 on 03/27/24 and a 52-week low of $8.81 on 02/05/24. A 50-day SMA is recorded $12.38, while a 200-day SMA reached $10.48. Nevertheless, trading volume fell to 0.83 million shares from 0.13 million shares the previous day.

Support And Resistance Levels for Matrix Service Co. (MTRX)

According to the 24-hour chart, there is a support level at 9.86, which, if violated, would cause prices to drop to 9.09. In the upper region, resistance lies at 11.30. The next price resistance is at 11.96. RSI (Relative Strength Index) is 30.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.05, which suggests the price will decrease in the coming days. Percent R is at 64.26%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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