Mercury Systems (NASDAQ:MRCY) Shares Up 2.6% – Here’s Why

Mercury Systems, Inc. (NASDAQ:MRCY) rose 2.6% during trading on Tuesday . The stock traded as high as $43.73 and last traded at $42.62. Approximately 396,523 shares traded hands during trading, a decline of 30% from the average daily volume of 564,332 shares. The stock had previously closed at $41.52.

Analysts Set New Price Targets

MRCY has been the subject of a number of analyst reports. Truist Financial upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $49.00 to $56.00 in a research report on Thursday, March 13th. Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and raised their target price for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a report on Thursday, January 16th. Finally, Baird R W raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.86.

Mercury Systems Stock Performance

The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -27.54 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The firm’s 50-day moving average price is $44.17 and its two-hundred day moving average price is $40.83.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. On average, analysts expect that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In other Mercury Systems news, CAO Douglas Munro sold 595 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $26,251.40. Following the completion of the transaction, the chief accounting officer now owns 14,572 shares of the company’s stock, valued at $642,916.64. The trade was a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Roger Iv Wells sold 2,342 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the completion of the transaction, the chief operating officer now directly owns 95,928 shares of the company’s stock, valued at $4,232,343.36. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,314 shares of company stock valued at $234,454. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new stake in shares of Mercury Systems during the fourth quarter worth $33,000. Sterling Capital Management LLC lifted its holdings in Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after acquiring an additional 1,449 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mercury Systems in the 4th quarter worth about $75,000. KBC Group NV boosted its stake in Mercury Systems by 49.4% in the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock worth $105,000 after purchasing an additional 825 shares during the period. Finally, FMR LLC increased its stake in Mercury Systems by 46.5% in the 3rd quarter. FMR LLC now owns 3,067 shares of the technology company’s stock worth $113,000 after acquiring an additional 974 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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.