Mercury Systems (NASDAQ:MRCY) Shares Gap Down After Analyst Downgrade

Mercury Systems, Inc. (NASDAQ:MRCY) shares gapped down prior to trading on Wednesday after Truist Financial lowered their price target on the stock from $28.00 to $26.00. The stock had previously closed at $29.11, but opened at $26.51. Truist Financial currently has a hold rating on the stock. Mercury Systems shares last traded at $28.78, with a volume of 262,966 shares.

Several other research firms also recently commented on MRCY. Royal Bank of Canada dropped their target price on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 7th. The Goldman Sachs Group cut their price target on Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.63.

Insiders Place Their Bets

In other Mercury Systems news, EVP Stephanie Georges sold 1,409 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the sale, the executive vice president now owns 38,319 shares in the company, valued at $1,133,092.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Barry R. Nearhos purchased 3,500 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at approximately $95,025. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephanie Georges sold 1,409 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $29.57, for a total transaction of $41,664.13. Following the completion of the sale, the executive vice president now directly owns 38,319 shares of the company’s stock, valued at $1,133,092.83. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 14,133 shares of company stock valued at $398,311 and sold 3,510 shares valued at $103,685. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. VisionPoint Advisory Group LLC grew its position in shares of Mercury Systems by 110.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company’s stock worth $27,000 after buying an additional 376 shares during the last quarter. Psagot Value Holdings Ltd. Israel boosted its position in Mercury Systems by 511.5% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,278 shares of the technology company’s stock valued at $47,000 after buying an additional 1,069 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Mercury Systems in the fourth quarter worth $169,000. Gabelli Funds LLC purchased a new position in shares of Mercury Systems during the third quarter worth $264,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Mercury Systems in the third quarter valued at $275,000. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Price Performance

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -17.99 and a beta of 0.68. The firm has a 50-day simple moving average of $28.84 and a two-hundred day simple moving average of $31.80. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.48). The company had revenue of $197.46 million during the quarter, compared to analysts’ expectations of $215.41 million. Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%. As a group, analysts predict that Mercury Systems, Inc. will post -1.4 earnings per share for the current fiscal year.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.