Mercury Systems (NASDAQ:MRCY) Trading Down 8.7% – Here’s Why

Shares of Mercury Systems Inc (NASDAQ:MRCY) fell 8.7% during trading on Wednesday . The stock traded as low as $92.21 and last traded at $90.7350. 75,128 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 661,172 shares. The stock had previously closed at $99.38.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Zacks Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Jefferies Financial Group restated a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research note on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Finally, Canaccord Genuity Group boosted their price objective on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

Mercury Systems Stock Up 6.4%

The business’s fifty day moving average price is $108.50 and its 200 day moving average price is $94.08. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $5.76 billion, a PE ratio of -399.88 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, equities research analysts forecast that Mercury Systems Inc will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mercury Systems news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the transaction, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,250 shares of company stock valued at $1,733,220. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Mercury Systems by 12.1% during the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after acquiring an additional 368,242 shares during the period. Invesco Ltd. grew its holdings in shares of Mercury Systems by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after buying an additional 383,299 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Mercury Systems by 1.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after buying an additional 21,182 shares during the period. Geode Capital Management LLC boosted its position in Mercury Systems by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock worth $99,940,000 after acquiring an additional 47,174 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in Mercury Systems by 46.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock worth $68,158,000 after acquiring an additional 298,298 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

About Mercury Systems

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.