Mercury Systems (NASDAQ:MRCY) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a sell rating in a report released on Thursday.

MRCY has been the topic of a number of other reports. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price on the stock in a research report on Monday, August 19th. Truist Financial raised their target price on shares of Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Robert W. Baird upped their price target on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.00.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $42.70 on Thursday. The firm’s fifty day simple moving average is $36.18 and its 200-day simple moving average is $33.32. The company has a quick ratio of 2.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2.55 billion, a PE ratio of -20.83 and a beta of 0.71. Mercury Systems has a fifty-two week low of $25.31 and a fifty-two week high of $43.33.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative net margin of 13.80% and a negative return on equity of 3.96%. The company had revenue of $248.56 million for the quarter, compared to analyst estimates of $223.80 million. Analysts expect that Mercury Systems will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the completion of the sale, the chief operating officer now owns 130,408 shares in the company, valued at $5,149,811.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO William L. Ballhaus sold 6,549 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $258,620.01. Following the transaction, the chief executive officer now directly owns 353,481 shares of the company’s stock, valued at approximately $13,958,964.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $53,153.54. Following the sale, the chief operating officer now directly owns 130,408 shares of the company’s stock, valued at approximately $5,149,811.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,099 shares of company stock worth $865,740. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

A number of large investors have recently modified their holdings of MRCY. Signaturefd LLC increased its position in Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock worth $25,000 after purchasing an additional 393 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Mercury Systems by 1,126.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock worth $31,000 after acquiring an additional 1,070 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Mercury Systems by 216.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock valued at $64,000 after acquiring an additional 1,622 shares during the period. Covestor Ltd lifted its holdings in shares of Mercury Systems by 41.2% during the 3rd quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock valued at $78,000 after acquiring an additional 620 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Mercury Systems during the 2nd quarter worth $81,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

About Mercury Systems

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.