Mercury Systems (NASDAQ:MRCY) Trading Down 9.2% – What’s Next?

Mercury Systems Inc (NASDAQ:MRCY) shares were down 9.2% during trading on Monday . The stock traded as low as $98.52 and last traded at $98.0420. Approximately 314,550 shares changed hands during trading, a decline of 52% from the average session volume of 661,088 shares. The stock had previously closed at $107.98.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MRCY. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a report on Friday. Wall Street Zen upgraded Mercury Systems from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

Mercury Systems Trading Down 9.2%

The business’s 50 day simple moving average is $106.26 and its two-hundred day simple moving average is $92.08. The stock has a market cap of $5.89 billion, a P/E ratio of -408.63 and a beta of 0.93. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.Mercury Systems’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. As a group, analysts expect that Mercury Systems Inc will post 0.3 EPS for the current year.

Insider Transactions at Mercury Systems

In other news, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director directly owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,875 shares of company stock valued at $2,040,874 over the last three months. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Leonteq Securities AG bought a new position in shares of Mercury Systems during the fourth quarter valued at $35,000. Hollencrest Capital Management bought a new position in Mercury Systems during the 4th quarter worth $37,000. Osaic Holdings Inc. lifted its holdings in Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Mercury Systems by 53.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after buying an additional 228 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Mercury Systems in the 2nd quarter valued at about $43,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.