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

Mercury Systems, Inc. (NASDAQ:MRCY) 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 changing hands.

A number of other research analysts also recently issued reports on MRCY. Royal Bank of Canada decreased their price target on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group decreased their price objective on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Mercury Systems presently has an average rating of “Hold” and an average price target of $29.63.

Insiders Place Their Bets

In other Mercury Systems news, EVP Stephanie Georges sold 1,409 shares of Mercury Systems stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 38,319 shares in the company, valued at $1,133,092.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Mercury Systems news, EVP Stephanie Georges sold 1,409 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Barry R. Nearhos acquired 3,500 shares of Mercury Systems stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $27.15 per share, with a total value 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 disclosure for this purchase can be found here. In the last 90 days, insiders purchased 14,133 shares of company stock worth $398,311 and sold 3,510 shares worth $103,685. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates raised its holdings in Mercury Systems by 0.6% during the 3rd quarter. Raymond James & Associates now owns 115,989 shares of the technology company’s stock worth $4,302,000 after buying an additional 657 shares during the period. New York State Teachers Retirement System grew its stake in shares of Mercury Systems by 6.7% in the third quarter. New York State Teachers Retirement System now owns 61,611 shares of the technology company’s stock valued at $2,285,000 after buying an additional 3,887 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Mercury Systems by 19.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,059 shares of the technology company’s stock valued at $410,000 after acquiring an additional 1,782 shares during the last quarter. Washington Capital Management Inc. bought a new position in shares of Mercury Systems in the 3rd quarter valued at about $345,000. Finally, Cambiar Investors LLC raised its holdings in shares of Mercury Systems by 7.0% in the 3rd quarter. Cambiar Investors LLC now owns 271,880 shares of the technology company’s stock valued at $10,084,000 after purchasing an additional 17,890 shares during the period. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Price Performance

The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -17.99 and a beta of 0.68. The company’s 50 day moving average is $28.84 and its 200-day moving average is $31.80.

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

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.