Mercury Systems (NASDAQ:MRCY) Trading Down 3.5% – Here’s Why

Mercury Systems, Inc. (NASDAQ:MRCY)’s stock price traded down 3.5% during trading on Monday . The company traded as low as $51.06 and last traded at $51.14. 360,397 shares traded hands during trading, a decline of 39% from the average session volume of 594,721 shares. The stock had previously closed at $52.98.

Analyst Ratings Changes

MRCY has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday. Truist Financial raised their target price on shares of Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Finally, Royal Bank of Canada boosted their price target on shares of Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.57.

Mercury Systems Stock Down 6.5%

The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2.96 billion, a PE ratio of -31.75 and a beta of 0.68. The business’s 50-day moving average price is $48.53 and its 200-day moving average price is $44.77.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The business had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. During the same period in the prior year, the business posted ($0.26) earnings per share. Mercury Systems’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts predict that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the sale, the director now owns 6,861,313 shares of the company’s stock, valued at $317,472,952.51. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total value of $185,648.40. Following the transaction, the executive vice president now directly owns 56,187 shares in the company, valued at approximately $2,680,119.90. This represents a 6.48% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Mercury Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of Mercury Systems in the fourth quarter valued at approximately $33,000. GAMMA Investing LLC raised its stake in Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after buying an additional 395 shares during the period. Fifth Third Bancorp lifted its stake in Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after buying an additional 451 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after purchasing an additional 1,449 shares during the period. Finally, Nkcfo LLC acquired a new position in shares of Mercury Systems in the first quarter valued at about $72,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Company Profile

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.