Mercury Systems (NASDAQ:MRCY) Stock Price Down 4.6% - Time to Sell?

Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) fell 4.6% during mid-day trading on Tuesday . The stock traded as low as $49.03 and last traded at $49.46. 87,653 shares changed hands during trading, a decline of 85% from the average session volume of 591,337 shares. The stock had previously closed at $51.83.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MRCY shares. Truist Financial boosted their price target on Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Royal Bank Of Canada lifted their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group raised their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mercury Systems currently has a consensus rating of "Hold" and an average price target of $49.57.

Mercury Systems Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 3.44 and a quick ratio of 2.25. The company has a market cap of $2.99 billion, a P/E ratio of -44.61 and a beta of 0.68. The stock has a fifty day moving average price of $49.27 and a two-hundred day moving average price of $45.26.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned ($0.26) earnings per share. On average, equities analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, Director Jana Partners Management, Lp sold 88,152 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the sale, the director now directly owns 6,861,313 shares of the company's stock, valued at $317,472,952.51. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven Ratner sold 1,839 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the sale, the executive vice president now directly owns 35,174 shares of the company's stock, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,883 shares of company stock valued at $4,362,791. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Mercury Systems by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock worth $233,126,000 after buying an additional 41,324 shares during the period. Conestoga Capital Advisors LLC boosted its position in Mercury Systems by 8.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock worth $97,305,000 after acquiring an additional 185,369 shares during the period. Dimensional Fund Advisors LP grew its stake in Mercury Systems by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock valued at $92,490,000 after acquiring an additional 52,725 shares in the last quarter. Victory Capital Management Inc. increased its holdings 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 purchasing an additional 294,747 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Mercury Systems by 196.1% in the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock valued at $42,987,000 after purchasing an additional 677,894 shares during the period. 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.