Mercury Systems (NASDAQ:MRCY) Lowered to “Sell” at StockNews.com

Mercury Systems (NASDAQ:MRCY) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

MRCY has been the subject of several other reports. Royal Bank of Canada boosted their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Alembic Global Advisors raised shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a report on Monday, August 19th. Robert W. Baird boosted their price objective on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Finally, Truist Financial boosted their price objective on shares of Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.50.

Mercury Systems Stock Up 1.0 %

Shares of Mercury Systems stock opened at $35.90 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. The stock has a market capitalization of $2.13 billion, a PE ratio of -15.28 and a beta of 0.69. Mercury Systems has a 52-week low of $25.31 and a 52-week high of $42.72. The company has a 50-day simple moving average of $36.03 and a two-hundred day simple moving average of $31.58.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.32. The business had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. On average, analysts anticipate that Mercury Systems will post -0.52 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the transaction, the chief operating officer now owns 130,408 shares in the company, valued at approximately $5,149,811.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Stephanie Georges sold 1,340 shares of Mercury Systems stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $52,916.60. Following the transaction, the executive vice president now owns 32,259 shares in the company, valued at approximately $1,273,907.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the transaction, the chief operating officer now owns 130,408 shares in the company, valued at approximately $5,149,811.92. The disclosure for this sale can be found here. Insiders have sold 22,099 shares of company stock worth $865,740 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Mercury Systems during the 2nd quarter valued at $3,079,000. Clearline Capital LP increased its holdings in Mercury Systems by 18.4% in the 2nd quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock valued at $14,213,000 after acquiring an additional 81,826 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Mercury Systems by 232.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,411 shares of the technology company’s stock valued at $794,000 after acquiring an additional 20,571 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Mercury Systems in the 2nd quarter valued at $526,000. Finally, Deerfield Management Company L.P. Series C bought a new stake in Mercury Systems in the 2nd quarter valued at $285,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

About Mercury Systems

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.