Mercury Systems (NASDAQ:MRCY) Stock Price Down 4.6% – Here’s What Happened

Mercury Systems Inc (NASDAQ:MRCY) shares were down 4.6% during mid-day trading on Tuesday . The company traded as low as $49.03 and last traded at $49.46. Approximately 87,653 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 591,337 shares. The stock had previously closed at $51.83.

Analyst Ratings Changes

A number of brokerages have commented on MRCY. JPMorgan Chase & Co. boosted their price target on shares of Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Royal Bank Of Canada boosted their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Truist Financial raised their price target on shares of Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group boosted their price objective on Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $49.57.

Mercury Systems Stock Performance

The company’s 50-day simple moving average is $49.27 and its 200 day simple moving average is $45.26. The stock has a market cap of $2.99 billion, a P/E ratio of -44.74 and a beta of 0.68. The company has a current ratio of 3.44, a quick ratio of 2.25 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $211.36 million during the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) EPS. As a group, sell-side analysts expect that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director now owns 6,861,313 shares of the company’s stock, valued at $317,472,952.51. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven Ratner sold 1,839 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the sale, the executive vice president now owns 35,174 shares in the company, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,883 shares of company stock worth $4,362,791 over the last three months. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Mercury Systems

Institutional investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new stake in shares of Mercury Systems in the fourth quarter worth about $33,000. GAMMA Investing LLC lifted its stake in Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after purchasing an additional 395 shares in the last quarter. Fifth Third Bancorp lifted its stake in Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after purchasing an additional 451 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,449 shares during the period. Finally, Nkcfo LLC purchased a new position in shares of Mercury Systems during the 1st quarter valued at $72,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.