Mercury Systems (NASDAQ:MRCY) Shares Gap Down – Time to Sell?

Mercury Systems, Inc. (NASDAQ:MRCY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $43.09, but opened at $42.04. Mercury Systems shares last traded at $42.60, with a volume of 75,302 shares trading hands.

Analyst Ratings Changes

MRCY has been the topic of several research analyst reports. Baird R W raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $37.00 to $58.00 in a report on Wednesday, February 5th. Truist Financial upgraded Mercury Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $56.00 in a report on Thursday, March 13th. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group raised their target price on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.86.

Mercury Systems Price Performance

The stock has a 50-day moving average price of $44.11 and a 200 day moving average price of $40.67. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -28.92 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities research analysts forecast that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mercury Systems news, COO Charles Roger Iv Wells sold 2,342 shares of Mercury Systems stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the sale, the chief operating officer now directly owns 95,928 shares in the company, valued at $4,232,343.36. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Douglas Munro sold 595 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $26,251.40. Following the transaction, the chief accounting officer now directly owns 14,572 shares in the company, valued at $642,916.64. The trade was a 3.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,314 shares of company stock valued at $234,454. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Principal Financial Group Inc. lifted its stake in Mercury Systems by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock valued at $10,327,000 after buying an additional 7,512 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Mercury Systems by 16.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock worth $86,526,000 after buying an additional 294,747 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Mercury Systems by 35.1% in the fourth quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock worth $12,479,000 after purchasing an additional 77,254 shares during the period. Fisher Asset Management LLC bought a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $16,601,000. Finally, Zions Bancorporation N.A. grew its position in Mercury Systems by 14.4% in the 4th quarter. Zions Bancorporation N.A. now owns 50,159 shares of the technology company’s stock worth $2,107,000 after purchasing an additional 6,325 shares during the last quarter. 95.99% of the stock is owned by 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.