StockNews.com Downgrades Mercury Systems (NASDAQ:MRCY) to Sell

Mercury Systems (NASDAQ:MRCY) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other brokerages have also recently issued reports on MRCY. JPMorgan Chase & Co. increased their target price on Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price target on Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 14th. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a report on Monday, August 19th. Truist Financial upped their target price on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Finally, Jefferies Financial Group raised shares of Mercury Systems from an “underperform” rating to a “hold” rating and lifted their price target for the company from $30.00 to $42.00 in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and a consensus target price of $35.50.

Mercury Systems Price Performance

Shares of Mercury Systems stock traded up $0.24 during trading on Tuesday, hitting $38.97. 282,514 shares of the company’s stock traded hands, compared to its average volume of 582,856. The company has a market cap of $2.32 billion, a PE ratio of -19.01 and a beta of 0.71. The firm’s fifty day moving average price is $36.72 and its 200 day moving average price is $33.94. Mercury Systems has a twelve month low of $25.31 and a twelve month high of $44.63. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.10 and a quick ratio of 2.59.

Insiders Place Their Bets

In related news, EVP Steven Ratner sold 3,891 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $38.41, for a total value of $149,453.31. Following the transaction, the executive vice president now owns 60,079 shares in the company, valued at $2,307,634.39. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Roger Iv Wells sold 1,527 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $38.80, for a total transaction of $59,247.60. Following the completion of the transaction, the chief operating officer now directly owns 113,488 shares in the company, valued at $4,403,334.40. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,330 shares of company stock valued at $281,458 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mercury Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Westwood Holdings Group Inc. grew its stake in shares of Mercury Systems by 14.7% during the first quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company’s stock worth $45,848,000 after purchasing an additional 199,600 shares during the period. Barclays PLC increased its stake in shares of Mercury Systems by 471.3% in the 3rd quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock valued at $6,496,000 after acquiring an additional 144,831 shares during the last quarter. Roubaix Capital LLC bought a new position in Mercury Systems during the 2nd quarter worth approximately $3,684,000. Jane Street Group LLC grew its holdings in Mercury Systems by 102.6% during the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after purchasing an additional 130,396 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Mercury Systems in the second quarter valued at approximately $3,079,000. 95.99% of the stock is owned by institutional investors.

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.