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Mercury Systems Inc [MRCY] Insider Selling: Time to sell?

Mercury Systems Inc’s filing revealed that its EVP, CHRO Ratner Steven unloaded Company’s shares for reported $61134.0 on Jun 18 ’24. In the deal valued at $27.76 per share,2,202 shares were sold. As a result of this transaction, Ratner Steven now holds 50,592 shares worth roughly $1.54 million.

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Then, Ratner Steven sold 129 shares, generating $3,709 in total proceeds. Upon selling the shares at $28.75, the EVP, CHRO now owns 0 shares.

Before that, Ratner Steven sold 1,895 shares. Mercury Systems Inc shares valued at $55,988 were divested by the EVP, CHRO at a price of $29.55 per share. As a result of the transaction, Ratner Steven now holds 52,604 shares, worth roughly $1.6 million.

Truist downgraded its Mercury Systems Inc [MRCY] rating to a Hold from a a Buy in a research note published on February 07, 2024; the price target was decreased to $28 from $48. A number of analysts have revised their coverage, including Goldman’s analysts, who decreased its forecast for the stock in early January from “a Neutral” to “a Sell”. Jefferies also remained covering MRCY and has decreased its forecast on January 03, 2024 with a “an Underperform” recommendation from previously “Hold” rating.

Price Performance Review of MRCY

On Tuesday, Mercury Systems Inc [NASDAQ:MRCY] saw its stock jump 1.26% to $30.48. Over the last five days, the stock has gained 7.51%. Mercury Systems Inc shares have fallen nearly -16.65% since the year began. Nevertheless, the stocks have fallen -9.96% over the past one year. While a 52-week high of $40.95 was reached on 01/02/24, a 52-week low of $25.31 was recorded on 02/07/24. SMA at 50 days reached $29.49, while 200 days put it at $31.93. A total of 0.4 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For MRCY Stock

The 24-hour chart illustrates a support level at 30.06, which if violated will result in even more drops to 29.65. On the upside, there is a resistance level at 30.76. A further resistance level may holdings at 31.05. The Relative Strength Index (RSI) on the 14-day chart is 60.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.70, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.61%. Stochastics%K at 93.65% indicates the stock is a selling.

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