Mercury Systems (NASDAQ:MRCY) Hits New 1-Year High – Here’s What Happened

Shares of Mercury Systems Inc (NASDAQ:MRCY) hit a new 52-week high during trading on Thursday . The stock traded as high as $119.00 and last traded at $119.7790, with a volume of 398015 shares changing hands. The stock had previously closed at $106.81.

Analyst Upgrades and Downgrades

MRCY has been the subject of several analyst reports. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group increased their target price on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 target price on shares of Mercury Systems in a report on Monday, June 1st. Finally, The Goldman Sachs Group increased their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mercury Systems currently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Mercury Systems Stock Performance

The company has a market cap of $7.17 billion, a P/E ratio of -493.67 and a beta of 0.94. The company’s 50-day moving average is $90.46 and its two-hundred day moving average is $85.19. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. Equities analysts predict that Mercury Systems Inc will post 0.18 EPS for the current year.

Insider Buying and Selling at Mercury Systems

In other news, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares in the company, valued at $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the transaction, the director owned 52,448 shares of the company’s stock, valued at $4,686,753.28. The trade was a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,875 shares of company stock worth $2,040,874 over the last three months. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds have recently made changes to their positions in MRCY. Osaic Holdings Inc. lifted its holdings in Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Leonteq Securities AG purchased a new position in Mercury Systems during the 4th quarter valued at about $35,000. Hollencrest Capital Management bought a new stake in shares of Mercury Systems during the fourth quarter valued at about $37,000. Federated Hermes Inc. bought a new stake in shares of Mercury Systems during the second quarter valued at about $43,000. Finally, AlphaQuest LLC lifted its holdings in shares of Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after buying an additional 168 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Company Profile

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.