Mistras Group (NYSE:MG) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Mistras Group (NYSE:MG) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Mistras Group Stock Performance

Shares of Mistras Group stock opened at $10.11 on Tuesday. The firm has a market capitalization of $313.51 million, a P/E ratio of 28.89, a P/E/G ratio of 0.73 and a beta of 1.76. Mistras Group has a 52 week low of $7.45 and a 52 week high of $12.44. The company has a quick ratio of 1.55, a current ratio of 1.68 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average is $9.37 and its two-hundred day moving average is $10.12.

Hedge Funds Weigh In On Mistras Group

Hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in shares of Mistras Group by 118.5% during the third quarter. Barclays PLC now owns 37,760 shares of the technology company’s stock worth $430,000 after acquiring an additional 20,482 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mistras Group by 0.9% during the third quarter. Geode Capital Management LLC now owns 453,389 shares of the technology company’s stock worth $5,156,000 after acquiring an additional 4,014 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Mistras Group by 554.4% during the third quarter. JPMorgan Chase & Co. now owns 62,512 shares of the technology company’s stock worth $711,000 after acquiring an additional 52,960 shares during the last quarter. State Street Corp grew its position in shares of Mistras Group by 4.8% during the third quarter. State Street Corp now owns 317,579 shares of the technology company’s stock worth $3,611,000 after acquiring an additional 14,651 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Mistras Group during the third quarter worth approximately $907,000. 74.92% of the stock is currently owned by hedge funds and other institutional investors.

Mistras Group Company Profile

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.