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

Mercury Systems, Inc. (NASDAQ:MRCY) shares gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

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

Mercury Systems Trading Up 3.7 %

The firm has a market cap of $2.69 billion, a PE ratio of -28.92 and a beta of 0.79. The firm has a 50 day moving average of $44.11 and a 200 day moving average of $40.67. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Equities analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Mercury Systems

In other news, EVP Stuart Kupinsky sold 2,377 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $104,873.24. Following the completion of the transaction, the executive vice president now owns 62,834 shares in the company, valued at $2,772,236.08. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Charles Roger Iv Wells sold 2,342 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value 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 approximately $4,232,343.36. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,314 shares of company stock worth $234,454 over the last three months. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Mercury Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company’s stock valued at $233,126,000 after purchasing an additional 41,324 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mercury Systems by 2.5% during 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 buying an additional 52,725 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Mercury Systems by 55.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock worth $87,058,000 after purchasing an additional 743,552 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Mercury Systems by 16.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock valued at $86,526,000 after purchasing an additional 294,747 shares during the period. Finally, Millennium Management LLC grew its holdings in Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock worth $42,987,000 after acquiring an additional 677,894 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

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.