Mercury Systems (NASDAQ:MRCY) Stock Price Up 7.3% – Still a Buy?

Shares of Mercury Systems Inc (NASDAQ:MRCY) traded up 7.3% on Thursday . The company traded as high as $91.98 and last traded at $91.0010. 199,355 shares were traded during mid-day trading, a decline of 66% from the average session volume of 591,639 shares. The stock had previously closed at $84.80.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MRCY shares. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price target on shares of Mercury Systems in a report on Wednesday, November 5th. Truist Financial boosted their target price on Mercury Systems from $71.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada set a $95.00 price target on Mercury Systems and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. UBS Group set a $88.00 price objective on Mercury Systems in a research note on Thursday, October 2nd. Finally, Canaccord Genuity Group assumed coverage on Mercury Systems in a research report on Thursday, October 2nd. They set a “buy” rating and a $88.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have given 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, Mercury Systems presently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Mercury Systems Stock Up 6.2%

The stock’s 50-day simple moving average is $72.88 and its 200-day simple moving average is $67.92. The firm has a market capitalization of $5.41 billion, a P/E ratio of -157.63, a P/E/G ratio of 3.73 and a beta of 0.78. The company has a current ratio of 3.37, a quick ratio of 2.31 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. The company had revenue of $256.86 million during the quarter. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%. As a group, research analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, CAO Douglas Munro sold 1,329 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $73.42, for a total value of $97,575.18. Following the transaction, the chief accounting officer directly owned 14,678 shares of the company’s stock, valued at approximately $1,077,658.76. The trade was a 8.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Debora A. Plunkett sold 1,700 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $73.99, for a total transaction of $125,783.00. Following the transaction, the director owned 16,833 shares of the company’s stock, valued at approximately $1,245,473.67. The trade was a 9.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,003,029 shares of company stock worth $75,673,358 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

A number of large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new position in shares of Mercury Systems during the 3rd quarter valued at $32,000. Osaic Holdings Inc. raised its position in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the period. Quaker Wealth Management LLC lifted its stake in shares of Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock valued at $35,000 after buying an additional 1,288 shares in the last quarter. Federated Hermes Inc. bought a new position in Mercury Systems in the 2nd quarter worth approximately $43,000. Finally, AlphaQuest LLC grew its stake in Mercury Systems by 41.9% in the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after buying an additional 168 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.