Mercury Systems (NASDAQ:MRCY) Trading Down 4.8% – What’s Next?

Shares of Mercury Systems Inc (NASDAQ:MRCY) dropped 4.8% during trading on Wednesday . The stock traded as low as $95.06 and last traded at $94.3980. 77,467 shares were traded during trading, a decline of 88% from the average daily volume of 664,795 shares. The stock had previously closed at $99.14.

Analyst Ratings Changes

MRCY has been the topic of a number of research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Wednesday, October 8th. Royal Bank Of Canada set a $95.00 price target on Mercury Systems and gave the company an “outperform” rating in a report on Wednesday, November 5th. UBS Group set a $88.00 target price on Mercury Systems in a report on Thursday, October 2nd. Finally, Truist Financial set a $102.00 target price on Mercury Systems in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Mercury Systems Price Performance

The company has a fifty day simple moving average of $75.83 and a 200 day simple moving average of $70.04. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -180.74, a P/E/G ratio of 4.37 and a beta of 0.78. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.31 and a current ratio of 3.37.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%.The company had revenue of $225.21 million during the quarter, compared to the consensus estimate of $207.28 million. During the same period last year, the company earned $0.04 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jana Partners Management, Lp sold 1,000,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $75.45, for a total value of $75,450,000.00. Following the transaction, the director owned 4,966,675 shares in the company, valued at $374,735,628.75. The trade was a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Douglas Munro sold 1,329 shares of Mercury Systems stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total value of $97,575.18. Following the completion of the transaction, the chief accounting officer directly owned 14,678 shares of the company’s stock, valued at approximately $1,077,658.76. This trade represents a 8.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,003,029 shares of company stock valued at $75,673,358 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in Mercury Systems in the 1st quarter worth approximately $755,000. Goldman Sachs Group Inc. increased its holdings in shares of Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Mercury Systems by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock valued at $6,878,000 after buying an additional 18,916 shares during the period. Jane Street Group LLC lifted its stake in Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after buying an additional 31,337 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Mercury Systems by 60.8% in the first quarter. Voya Investment Management LLC now owns 25,440 shares of the technology company’s stock valued at $1,096,000 after purchasing an additional 9,616 shares during the last quarter. 95.99% of the stock is 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.