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

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

Wall Street Analysts Forecast Growth

MRCY has been the topic of several recent analyst reports. Jefferies Financial Group raised Mercury Systems from an “underperform” rating to a “hold” rating and upped their target price for the company from $30.00 to $42.00 in a research report on Monday, November 11th. Truist Financial increased their price objective on shares of Mercury Systems from $35.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, January 14th. Robert W. Baird raised shares of Mercury Systems from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $37.00 to $58.00 in a research report on Wednesday. Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $25.00 to $28.00 and gave the company a “sell” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.14.

Mercury Systems Trading Down 6.4 %

The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -22.82 and a beta of 0.79. The company has a 50 day moving average of $41.23 and a 200 day moving average of $38.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 13.80% and a negative return on equity of 3.96%. On average, research analysts predict that Mercury Systems, Inc. will post -0.14 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 1,527 shares of the business’s 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 sale, the chief operating officer now owns 113,488 shares in the company, valued at approximately $4,403,334.40. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock worth $25,000 after purchasing an additional 393 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Mercury Systems by 43.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company’s stock worth $62,000 after buying an additional 503 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mercury Systems in the fourth quarter valued at approximately $75,000. Covestor Ltd grew its holdings in Mercury Systems by 41.2% during the 3rd quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock worth $78,000 after acquiring an additional 620 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Mercury Systems by 49.4% in the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after purchasing an additional 825 shares during the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

About Mercury Systems

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.