Mercury Systems (NASDAQ:MRCY) Trading Down 6.2% – Here’s What Happened

Mercury Systems, Inc. (NASDAQ:MRCY)’s stock price traded down 6.2% during mid-day trading on Thursday . The stock traded as low as $46.61 and last traded at $46.80. 351,559 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 509,716 shares. The stock had previously closed at $49.88.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial boosted their target price on shares of Mercury Systems from $35.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $37.00 to $58.00 in a research report on Wednesday. Jefferies Financial Group upgraded 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 research report on Monday, November 11th. Finally, Baird R W upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mercury Systems currently has an average rating of “Hold” and a consensus price target of $42.14.

Mercury Systems Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 3.62. The company has a 50-day moving average of $41.44 and a 200-day moving average of $38.51. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -29.07 and a beta of 0.79.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. As a group, equities research analysts expect that Mercury Systems, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,527 shares of Mercury Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the completion of the sale, the chief operating officer now owns 113,488 shares of the company’s stock, valued at $4,403,334.40. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Mercury Systems

A number of hedge funds have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC lifted its holdings in shares of Mercury Systems by 55.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock worth $87,058,000 after acquiring an additional 743,552 shares during the period. Fisher Asset Management LLC purchased a new position in Mercury Systems during the fourth quarter worth approximately $16,601,000. Victory Capital Management Inc. raised its stake in Mercury Systems by 16.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock worth $86,526,000 after purchasing an additional 294,747 shares during the period. Barclays PLC boosted its holdings 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 purchasing an additional 144,831 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Mercury Systems during the 4th quarter valued at $4,258,000. 95.99% of the stock is 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.