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

Shares of Mercury Systems Inc (NASDAQ:MRCY) dropped 9.2% during trading on Monday . The company traded as low as $98.52 and last traded at $98.0420. Approximately 314,550 shares were traded during 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

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Mercury Systems from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Canaccord Genuity Group lifted their target price 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. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 price target on shares of Mercury Systems in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Mercury Systems has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Stock Down 9.2%

The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The stock has a market cap of $5.89 billion, a P/E ratio of -408.63 and a beta of 0.93. The firm has a 50-day simple moving average of $106.26 and a two-hundred day simple moving average of $92.08.

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

Insider Buying and Selling at Mercury Systems

In other news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were 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 owned 157,701 shares of the company’s stock, valued at approximately $13,384,083.87. This trade represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 21,875 shares of company stock valued at $2,040,874 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its stake in Mercury Systems by 15.4% in the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock valued at $59,000 after purchasing an additional 107 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in Mercury Systems by 1.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock valued at $563,000 after buying an additional 134 shares during the period. GAMMA Investing LLC raised its position in shares of Mercury Systems by 8.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company’s stock valued at $243,000 after buying an additional 155 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Mercury Systems by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock valued at $880,000 after buying an additional 187 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Mercury Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock worth $1,111,000 after acquiring an additional 195 shares during the period. Institutional investors own 95.99% of the company’s stock.

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.