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

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) gapped down before the market opened 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.

MRCY has been the subject of a number of other research reports. The Goldman Sachs Group reduced their price objective on Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada reduced 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 report on Wednesday, February 7th. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, Mercury Systems currently has a consensus rating of “Hold” and an average price target of $29.63.

Insider Transactions at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,696 shares of the business’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 $50,150.72. Following the transaction, the chief operating officer now directly owns 105,427 shares in the company, valued at $3,117,476.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Charles Roger Iv Wells sold 1,696 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 $50,150.72. Following the sale, the chief operating officer now directly owns 105,427 shares in the company, valued at $3,117,476.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William L. Ballhaus acquired 3,413 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $29.30 per share, with a total value of $100,000.90. Following the transaction, the chief executive officer now directly owns 7,066 shares of the company’s stock, valued at approximately $207,033.80. The disclosure for this purchase can be found here. In the last quarter, insiders sold 3,510 shares of company stock worth $103,685. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Mercury Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its position in shares of Mercury Systems by 0.6% during the 3rd quarter. Raymond James & Associates now owns 115,989 shares of the technology company’s stock valued at $4,302,000 after acquiring an additional 657 shares during the period. New York State Teachers Retirement System raised its holdings in Mercury Systems by 6.7% during the third quarter. New York State Teachers Retirement System now owns 61,611 shares of the technology company’s stock worth $2,285,000 after purchasing an additional 3,887 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Mercury Systems by 19.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,059 shares of the technology company’s stock worth $410,000 after purchasing an additional 1,782 shares in the last quarter. Cambiar Investors LLC grew its holdings in Mercury Systems by 7.0% in the third 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 last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Mercury Systems by 45.7% in the third quarter. Daiwa Securities Group Inc. now owns 27,554 shares of the technology company’s stock valued at $1,022,000 after buying an additional 8,646 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Up 0.2 %

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 50 day moving average price of $28.80 and a 200-day moving average price of $31.75. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -19.35 and a beta of 0.68.

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

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.