Mercury Systems (NASDAQ:MRCY) Stock Price Down 6.2% - What's Next?

Shares of Mercury Systems, Inc. (NASDAQ:MRCY - Get Free Report) traded down 6.2% during trading on Thursday . The stock traded as low as $46.61 and last traded at $46.80. 351,559 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 509,716 shares. The stock had previously closed at $49.88.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Mercury Systems from a "sell" rating to a "hold" rating in a research note on Thursday, December 5th. Jefferies Financial Group upgraded shares of Mercury Systems from an "underperform" rating to a "hold" rating and increased their price objective for the stock from $30.00 to $42.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Truist Financial increased their price objective on shares of Mercury Systems from $35.00 to $44.00 and gave the stock a "hold" rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a "sell" rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mercury Systems presently has a consensus rating of "Hold" and a consensus price target of $42.14.

Mercury Systems Trading Up 3.6 %

The business's 50 day moving average price is $41.44 and its two-hundred day moving average price is $38.56. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -30.12 and a beta of 0.79.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued 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 net margin of 10.23% and a negative return on equity of 2.03%. On average, equities analysts predict that Mercury Systems, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 1,527 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $38.80, for a total value of $59,247.60. Following the completion of the transaction, the chief operating officer now owns 113,488 shares in the company, valued at $4,403,334.40. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC increased its stake in shares of Mercury Systems by 55.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company's stock valued at $87,058,000 after acquiring an additional 743,552 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Mercury Systems in the 4th quarter valued at $16,601,000. Victory Capital Management Inc. increased its stake in shares of Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock valued at $86,526,000 after acquiring an additional 294,747 shares in the last quarter. Barclays PLC increased its stake in shares of Mercury Systems by 471.3% in the 3rd quarter. Barclays PLC now owns 175,562 shares of the technology company's stock valued at $6,496,000 after acquiring an additional 144,831 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Mercury Systems in the 4th quarter valued at $4,258,000. Institutional investors 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.