Mercury Systems (NASDAQ:MRCY) Shares Up 6.6% – Here’s What Happened

Mercury Systems Inc (NASDAQ:MRCY) shares traded up 6.6% on Thursday . The stock traded as high as $105.73 and last traded at $105.42. 114,739 shares changed hands during trading, a decline of 83% from the average session volume of 665,043 shares. The stock had previously closed at $98.92.

Analyst Upgrades and Downgrades

MRCY has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. lifted their price objective on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Truist Financial raised Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group boosted their price objective on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Trading Down 2.9%

The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The firm has a fifty day simple moving average of $108.26 and a 200-day simple moving average of $93.72. The firm has a market cap of $6.20 billion, a P/E ratio of -430.29 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts expect that Mercury Systems Inc will post 0.35 earnings per share for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the sale, the executive vice president owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total transaction of $922,780.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 18,250 shares of company stock valued at $1,733,220. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently made changes to their positions in MRCY. AQR Capital Management LLC acquired a new position in Mercury Systems during the 1st quarter valued at about $755,000. Goldman Sachs Group Inc. increased its holdings in Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Mercury Systems by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after purchasing an additional 18,916 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Mercury Systems by 161.3% in the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after purchasing an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Mercury Systems by 30.3% in the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock valued at $6,731,000 after purchasing an additional 29,057 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.