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

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $37.00 to $58.00 in a research note on Wednesday. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $25.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, January 16th. StockNews.com raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Baird R W raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Mercury Systems presently has an average rating of “Hold” and an average target price of $42.14.

Mercury Systems Stock Down 4.2 %

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

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) 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%. Equities research analysts predict that Mercury Systems, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 1,527 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $38.80, for a total transaction of $59,247.60. Following the transaction, the chief operating officer now owns 113,488 shares of the company’s stock, valued at $4,403,334.40. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MRCY. Conestoga Capital Advisors LLC lifted its holdings in shares of Mercury Systems by 55.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock worth $87,058,000 after purchasing an additional 743,552 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock worth $86,526,000 after acquiring an additional 294,747 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Mercury Systems by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 673,224 shares of the technology company’s stock worth $28,275,000 after acquiring an additional 14,391 shares during the period. Fisher Asset Management LLC purchased a new position in Mercury Systems during the fourth quarter worth about $16,601,000. Finally, Van ECK Associates Corp lifted its position in Mercury Systems by 35.1% in the fourth quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock valued at $12,479,000 after purchasing an additional 77,254 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

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.