Mercury Systems (NASDAQ:MRCY) Sets New 52-Week High – What’s Next?

Mercury Systems Inc (NASDAQ:MRCY) hit a new 52-week high on Monday . The stock traded as high as $70.76 and last traded at $69.17, with a volume of 162953 shares changing hands. The stock had previously closed at $68.93.

Analyst Upgrades and Downgrades

MRCY has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Mercury Systems from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Truist Financial boosted their price objective on shares of Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Robert W. Baird boosted their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Finally, Raymond James Financial upgraded shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $55.00 to $80.00 in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.71.

Mercury Systems Stock Down 0.2%

The stock’s 50-day moving average price is $57.89 and its two-hundred day moving average price is $50.97. The stock has a market capitalization of $4.12 billion, a P/E ratio of -104.53, a P/E/G ratio of 2.87 and a beta of 0.77. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. During the same period last year, the firm earned $0.23 EPS. Mercury Systems’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, research analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Steven Ratner sold 7,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $63.76, for a total transaction of $446,320.00. Following the sale, the executive vice president owned 33,801 shares in the company, valued at approximately $2,155,151.76. This trade represents a 17.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $841,203.00. Following the sale, the chief executive officer owned 374,976 shares in the company, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 850,752 shares of company stock worth $55,622,679. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

A number of large investors have recently added to or reduced their stakes in MRCY. Osaic Holdings Inc. grew its holdings in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after acquiring an additional 208 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Mercury Systems during the fourth quarter valued at approximately $33,000. Quaker Wealth Management LLC raised its holdings in Mercury Systems by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after buying an additional 1,288 shares during the last quarter. Federated Hermes Inc. purchased a new position in Mercury Systems in the second quarter worth about $43,000. Finally, GAMMA Investing LLC raised its holdings in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after buying an additional 395 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

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.