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

Shares of Mercury Systems Inc (NASDAQ:MRCY) reached a new 52-week high on Thursday . The stock traded as high as $124.00 and last traded at $119.4550, with a volume of 4226 shares traded. The stock had previously closed at $115.50.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MRCY. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. The Goldman Sachs Group upped their price target on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Jefferies Financial Group restated a “hold” rating and set a $105.00 price target on shares of Mercury Systems in a research note on Monday, June 1st. Finally, Canaccord Genuity Group upped their price target on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Two investment 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 issued a Sell rating to the company. According to MarketBeat.com, Mercury Systems has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Mercury Systems Stock Down 1.7%

The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -472.85 and a beta of 0.94. The stock has a fifty day moving average of $94.69 and a 200-day moving average of $86.89.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $235.76 million for the quarter, compared to analysts’ expectations of $208.56 million. During the same period in the previous year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts expect that Mercury Systems Inc will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Mercury Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. raised 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 valued at $32,000 after acquiring an additional 208 shares in the last quarter. Leonteq Securities AG acquired a new position in Mercury Systems during the 4th quarter worth $35,000. Hollencrest Capital Management acquired a new position in Mercury Systems during the 4th quarter worth $37,000. Federated Hermes Inc. acquired a new position in Mercury Systems during the 2nd quarter worth $43,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Mercury Systems by 53.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after buying an additional 228 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

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.