Mercury Systems (NASDAQ:MRCY) Hits New 52-Week Low – Here’s Why

Mercury Systems Inc (NASDAQ:MRCY)’s share price hit a new 52-week low on Thursday. The stock traded as low as $64.88 and last traded at $65.45, with a volume of 478,277 shares trading hands. The stock had previously closed at $71.76.

Analyst Upgrades and Downgrades

MRCY has been the topic of several research analyst reports. Truist Financial raised their price objective on Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Piper Sandler decreased their price target on shares of Mercury Systems from $131.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Guggenheim began coverage on shares of Mercury Systems in a research report on Monday, September 14th. They set a “buy” rating and a $115.00 price objective for the company. Royal Bank Of Canada dropped their price objective on shares of Mercury Systems from $120.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Finally, Weiss Ratings downgraded shares of Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and an average price target of $107.90.

Mercury Systems Price Performance

The stock’s 50 day simple moving average is $80.36 and its 200-day simple moving average is $91.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of -147.10 and a beta of 0.98.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, analysts expect that Mercury Systems Inc will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other news, EVP Steven Ratner sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $84.51, for a total transaction of $338,040.00. Following the transaction, the executive vice president owned 19,275 shares in the company, valued at approximately $1,628,930.25. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Ballhaus sold 49,090 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $89.10, for a total value of $4,373,919.00. Following the completion of the transaction, the chief executive officer directly owned 361,822 shares of the company’s stock, valued at approximately $32,238,340.20. This trade represents a 11.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 452,186 shares of company stock worth $41,933,170 over the last 90 days. Company insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in Mercury Systems during the second quarter worth about $43,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Mercury Systems in the second quarter worth approximately $52,000. IFP Advisors Inc increased its holdings in shares of Mercury Systems by 250.8% in the second quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock worth $57,000 after buying an additional 331 shares during the period. Eurizon Capital SGR S.p.A. increased its position in shares of Mercury Systems by 159.0% in the third quarter. Eurizon Capital SGR S.p.A. now owns 531 shares of the technology company’s stock valued at $44,000 after acquiring an additional 326 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in shares of Mercury Systems by 53.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after buying an additional 228 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Company Profile

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.