Mercury Systems (NASDAQ:MRCY) Shares Gap Down - Here's Why

Shares of Mercury Systems, Inc. (NASDAQ:MRCY - Get Free Report) 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.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Baird R W raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. The Goldman Sachs Group lifted their target price on Mercury Systems from $25.00 to $28.00 and gave the company a "sell" rating in a research note on Thursday, January 16th. Robert W. Baird upgraded Mercury Systems from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. Finally, Truist Financial raised shares of Mercury Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $49.00 to $56.00 in a research note on Thursday, March 13th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $43.86.

Mercury Systems Price Performance

The company has a fifty day moving average price of $44.16 and a two-hundred day moving average price of $40.73. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. The firm has a market cap of $2.60 billion, a P/E ratio of -27.96 and a beta of 0.79.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Equities analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Stuart Kupinsky sold 2,377 shares of the business'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 transaction of $104,873.24. Following the transaction, the executive vice president now owns 62,834 shares of the company's stock, valued at $2,772,236.08. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Douglas Munro sold 595 shares of the company's stock in a transaction 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 owns 14,572 shares in the company, valued at approximately $642,916.64. This represents a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,314 shares of company stock valued at $234,454. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new stake in Mercury Systems during the 4th quarter worth approximately $33,000. Sterling Capital Management LLC increased its position in Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock worth $69,000 after buying an additional 1,449 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mercury Systems during the fourth quarter worth $75,000. KBC Group NV lifted its holdings in shares of Mercury Systems by 49.4% during the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company's stock worth $105,000 after buying an additional 825 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Mercury Systems by 46.5% in the third quarter. FMR LLC now owns 3,067 shares of the technology company's stock valued at $113,000 after acquiring an additional 974 shares during the period. Institutional investors and hedge funds 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.