Mercury Systems (NASDAQ:MRCY) Shares Down 3.5% - Time to Sell?

Shares of Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) dropped 3.5% during mid-day trading on Monday . The stock traded as low as $51.06 and last traded at $51.14. Approximately 360,397 shares changed hands during trading, a decline of 39% from the average daily volume of 594,721 shares. The stock had previously closed at $52.98.

Analysts Set New Price Targets

MRCY has been the subject of several analyst reports. Truist Financial lifted their price target on shares of Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday. Royal Bank Of Canada boosted their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a report on Monday, May 12th. 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $49.57.

Mercury Systems Stock Performance

The stock's 50-day moving average price is $48.82 and its 200 day moving average price is $44.88. 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 firm has a market cap of $3.07 billion, a P/E ratio of -45.92 and a beta of 0.68.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. The business had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. As a group, equities analysts predict that Mercury Systems Inc will post -0.08 EPS for the current year.

Insider Transactions at Mercury Systems

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

Institutional Trading of Mercury Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in Mercury Systems during the fourth quarter worth $33,000. GAMMA Investing LLC raised its position in shares of Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after purchasing an additional 395 shares during the period. Fifth Third Bancorp raised its position in shares of Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after purchasing an additional 451 shares during the period. Sterling Capital Management LLC raised its position in shares of Mercury Systems by 762.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock valued at $69,000 after purchasing an additional 1,449 shares during the period. Finally, Nkcfo LLC bought a new position in shares of Mercury Systems in the first quarter valued at about $72,000. 95.99% of the stock is owned by 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.