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

Mercury Systems, Inc. (NASDAQ:MRCY)’s stock price 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 trading hands.

MRCY has been the subject of a number of other research reports. Royal Bank of Canada lowered their target price on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group reduced their target price on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, Mercury Systems presently has an average rating of “Hold” and a consensus target price of $29.63.

Insider Transactions at Mercury Systems

In related news, CEO William L. Ballhaus bought 3,653 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $28.22 per share, with a total value of $103,087.66. Following the transaction, the chief executive officer now owns 3,653 shares of the company’s stock, valued at $103,087.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO David E. Farnsworth purchased 3,567 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $28.09 per share, with a total value of $100,197.03. Following the transaction, the chief financial officer now owns 126,618 shares in the company, valued at approximately $3,556,699.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Ballhaus acquired 3,653 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $28.22 per share, with a total value of $103,087.66. Following the acquisition, the chief executive officer now owns 3,653 shares of the company’s stock, valued at $103,087.66. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 14,133 shares of company stock valued at $398,311 and sold 3,510 shares valued at $103,685. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Mercury Systems by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,615,965 shares of the technology company’s stock valued at $208,296,000 after buying an additional 429,532 shares during the last quarter. Public Sector Pension Investment Board bought a new position in shares of Mercury Systems during the third quarter valued at approximately $2,345,000. William Blair Investment Management LLC raised its position in shares of Mercury Systems by 25.6% during the 3rd quarter. William Blair Investment Management LLC now owns 6,749,562 shares of the technology company’s stock worth $250,341,000 after purchasing an additional 1,376,905 shares during the period. Cerity Partners LLC bought a new stake in shares of Mercury Systems in the 4th quarter worth approximately $1,660,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Mercury Systems by 1,150.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 292,107 shares of the technology company’s stock worth $10,834,000 after purchasing an additional 268,752 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Stock Down 1.2 %

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 stock has a 50-day moving average of $28.82 and a 200-day moving average of $31.78. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -19.31 and a beta of 0.68.

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

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.