Mercury Systems (NASDAQ:MRCY) Shares Gap Down – Here’s What Happened

Mercury Systems, Inc. (NASDAQ:MRCY) shares gapped down prior to trading 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 Upgrades and Downgrades

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

Mercury Systems Price Performance

The stock has a market cap of $2.57 billion, a PE ratio of -27.64 and a beta of 0.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The business has a 50 day moving average price of $44.06 and a two-hundred day moving average price of $40.60.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share 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%. Research analysts expect that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In other news, CAO Douglas Munro sold 595 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $26,251.40. Following the completion of the transaction, the chief accounting officer now directly owns 14,572 shares of the company’s stock, valued at $642,916.64. This represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief operating officer now directly owns 95,928 shares in the company, valued at $4,232,343.36. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,314 shares of company stock worth $234,454. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Mercury Systems by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company’s stock valued at $233,126,000 after acquiring an additional 41,324 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Mercury Systems by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company’s stock valued at $92,490,000 after purchasing an additional 52,725 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of Mercury Systems by 55.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock valued at $87,058,000 after buying an additional 743,552 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in 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 buying an additional 294,747 shares during the period. Finally, Millennium Management LLC grew its stake in Mercury Systems by 196.1% in the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock valued at $42,987,000 after buying an additional 677,894 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

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.