Mercury Systems (NASDAQ:MRCY) Stock Price Down 9.2% – Here’s What Happened

Mercury Systems Inc (NASDAQ:MRCY) was down 9.2% during trading on Monday . The stock traded as low as $98.52 and last traded at $98.0420. Approximately 314,550 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 661,088 shares. The stock had previously closed at $107.98.

Analyst Ratings Changes

MRCY has been the topic of a number of research reports. Wall Street Zen raised shares of Mercury Systems from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Zacks Research raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Canaccord Genuity Group raised their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group upped their target price on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Mercury Systems has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Stock Up 2.1%

The stock’s 50-day moving average price is $106.99 and its two-hundred day moving average price is $92.43. The stock has a market capitalization of $6.02 billion, a PE ratio of -418.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. Mercury Systems’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. As a group, analysts expect that Mercury Systems Inc will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the transaction, the director owned 52,448 shares of the company’s stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the completion of the sale, the executive vice president directly owned 157,701 shares in the company, valued at $13,384,083.87. This trade represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Mercury Systems

Institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems in the 4th quarter worth approximately $37,000. Federated Hermes Inc. purchased a new position in Mercury Systems in the 2nd quarter worth approximately $43,000. Finally, Rockefeller Capital Management L.P. lifted its position in Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after acquiring an additional 228 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

About Mercury Systems

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.