Mercury Systems (NASDAQ:MRCY) Shares Down 8.7% – What’s Next?

Mercury Systems Inc (NASDAQ:MRCY) traded down 8.7% on Wednesday . The stock traded as low as $92.21 and last traded at $90.7350. 75,128 shares were traded 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MRCY. Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Truist Financial raised Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Friday, July 17th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price target on shares of Mercury Systems in a report on Friday, July 10th. Finally, Canaccord Genuity Group boosted their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Three equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.78.

Mercury Systems Stock Down 8.3%

The stock’s fifty day moving average price is $108.60 and its 200 day moving average price is $94.05. The stock has a market cap of $5.47 billion, a P/E ratio of -380.25 and a beta of 0.93. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. During the same period in the previous year, the firm posted $0.06 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, 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 Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the sale, the director owned 52,448 shares of the company’s stock, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was 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 owned 32,238 shares of the company’s stock, valued at $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,250 shares of company stock valued at $1,733,220 over the last 90 days. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. One Capital Management LLC boosted its stake in shares of Mercury Systems by 43.6% in the 4th quarter. One Capital Management LLC now owns 29,300 shares of the technology company’s stock valued at $2,139,000 after purchasing an additional 8,893 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Mercury Systems during the 1st quarter valued at $1,706,000. Bessemer Group Inc. raised its position in Mercury Systems by 45.6% in the 4th quarter. Bessemer Group Inc. now owns 399,496 shares of the technology company’s stock worth $29,168,000 after purchasing an additional 125,194 shares during the period. Peregrine Capital Management LLC lifted its stake in Mercury Systems by 6,562.5% in the fourth quarter. Peregrine Capital Management LLC now owns 142,178 shares of the technology company’s stock worth $10,380,000 after purchasing an additional 140,044 shares during the last quarter. Finally, UBS Group AG lifted its stake in Mercury Systems by 4.5% in the fourth quarter. UBS Group AG now owns 251,229 shares of the technology company’s stock worth $18,342,000 after purchasing an additional 10,880 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Company Profile

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.