Mercury Systems (NASDAQ:MRCY) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Mercury Systems (NASDAQ:MRCY) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

A number of other research firms also recently weighed in on MRCY. Royal Bank of Canada increased their price objective on Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, August 14th. Truist Financial increased their price target on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their target price on shares of Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group upgraded shares of Mercury Systems from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $30.00 to $42.00 in a research report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.50.

Mercury Systems Trading Up 0.6 %

Shares of NASDAQ MRCY opened at $38.97 on Tuesday. The firm has a 50 day moving average price of $36.72 and a two-hundred day moving average price of $33.94. The stock has a market cap of $2.32 billion, a P/E ratio of -19.01 and a beta of 0.71. Mercury Systems has a 52-week low of $25.31 and a 52-week high of $44.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at approximately $431,675.73. This represents a 13.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp acquired 13,600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $37.25 per share, with a total value of $506,600.00. Following the acquisition, the director now owns 6,944,633 shares of the company’s stock, valued at approximately $258,687,579.25. This represents a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 3,439 shares of company stock valued at $132,005 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. M&T Bank Corp raised its holdings in shares of Mercury Systems by 12.3% in the 3rd quarter. M&T Bank Corp now owns 71,218 shares of the technology company’s stock worth $2,635,000 after acquiring an additional 7,779 shares during the last quarter. Barclays PLC raised its stake in shares of Mercury Systems by 471.3% in the third quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock worth $6,496,000 after purchasing an additional 144,831 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Mercury Systems in the third quarter worth approximately $219,000. XTX Topco Ltd bought a new position in shares of Mercury Systems in the third quarter valued at approximately $857,000. Finally, Stifel Financial Corp purchased a new position in shares of Mercury Systems during the third quarter valued at approximately $246,000. 95.99% of the stock is owned by institutional investors.

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.