Mercury Systems (NASDAQ:MRCY) Shares Gap Down Following Analyst Downgrade

Mercury Systems, Inc. (NASDAQ:MRCY - Get Free Report) gapped down before the market opened on Wednesday after Truist Financial lowered their price target on the stock from $28.00 to $26.00. The stock had previously closed at $29.11, but opened at $26.51. Truist Financial currently has a hold rating on the stock. Mercury Systems shares last traded at $28.78, with a volume of 262,966 shares.

A number of other analysts also recently weighed in on MRCY. Royal Bank of Canada reduced their price target on shares of Mercury Systems from $35.00 to $30.00 and set a "sector perform" rating for the company in a report on Wednesday, February 7th. The Goldman Sachs Group reduced their price target on shares of Mercury Systems from $24.00 to $21.00 and set a "sell" rating for the company in a report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Mercury Systems presently has a consensus rating of "Hold" and a consensus price target of $29.63.

Insider Activity

In other Mercury Systems news, CEO William L. Ballhaus acquired 3,653 shares of the company's stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $28.22 per share, for a total transaction of $103,087.66. Following the purchase, the chief executive officer now owns 3,653 shares in the company, valued at approximately $103,087.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO William L. Ballhaus bought 3,413 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $29.30 per share, for a total transaction of $100,000.90. Following the transaction, the chief executive officer now directly owns 7,066 shares of the company's stock, valued at approximately $207,033.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Ballhaus bought 3,653 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $28.22 per share, with a total value of $103,087.66. Following the transaction, the chief executive officer now directly owns 3,653 shares in the company, valued at $103,087.66. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 14,133 shares of company stock worth $398,311 and sold 3,510 shares worth $103,685. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Mercury Systems

Hedge funds have recently made changes to their positions in the company. VisionPoint Advisory Group LLC increased its position in shares of Mercury Systems by 110.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company's stock worth $27,000 after purchasing an additional 376 shares in the last quarter. Psagot Value Holdings Ltd. Israel grew its stake in shares of Mercury Systems by 511.5% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,278 shares of the technology company's stock valued at $47,000 after purchasing an additional 1,069 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $169,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Mercury Systems in the first quarter valued at approximately $233,000. Finally, Iridian Asset Management LLC CT bought a new position in Mercury Systems in the 1st quarter worth approximately $251,000. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Stock Performance

The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -19.31 and a beta of 0.68. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $28.82 and a 200-day simple moving average of $31.78.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.48). The firm had revenue of $197.46 million during the quarter, compared to the consensus estimate of $215.41 million. Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. Analysts forecast that Mercury Systems, Inc. will post -1.4 EPS for the current fiscal year.

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.