Mercury Systems (NASDAQ:MRCY) Sets New 12-Month High – Here’s What Happened

Mercury Systems Inc (NASDAQ:MRCY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $85.35 and last traded at $84.7310, with a volume of 119646 shares. The stock had previously closed at $84.25.

Wall Street Analysts Forecast Growth

MRCY has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Wednesday, October 8th. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Truist Financial set a $102.00 price target on Mercury Systems in a report on Friday. Zacks Research lowered Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, Canaccord Genuity Group initiated coverage on Mercury Systems in a report on Thursday, October 2nd. They set a “buy” rating and a $88.00 target price for the company. Two equities research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.25.

Mercury Systems Trading Up 4.6%

The firm has a 50-day moving average of $73.12 and a two-hundred day moving average of $68.07. The firm has a market capitalization of $5.33 billion, a P/E ratio of -155.68, a P/E/G ratio of 3.76 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 posted its earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. Mercury Systems had a negative net margin of 3.53% and a positive return on equity of 1.14%. The firm had revenue of $256.86 million during the quarter. On average, analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current year.

Insider Buying and Selling at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 1,000,000 shares of Mercury Systems stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the sale, the director directly owned 4,966,675 shares in the company, valued at $374,735,628.75. This trade represents a 16.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Debora A. Plunkett sold 1,700 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $73.99, for a total transaction of $125,783.00. Following the completion of the transaction, the director owned 16,833 shares of the company’s stock, valued at approximately $1,245,473.67. This trade represents a 9.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,003,029 shares of company stock worth $75,673,358. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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