Mercury Systems (NASDAQ:MRCY) Reaches New 12-Month High – Here’s Why

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) hit a new 52-week high during trading on Wednesday . The company traded as high as $52.25 and last traded at $49.19, with a volume of 416651 shares traded. The stock had previously closed at $42.09.

Analyst Ratings Changes

Several research analysts have recently issued reports on MRCY shares. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised their price target on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial raised their target price on shares of Mercury Systems from $35.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird raised shares of Mercury Systems from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $37.00 to $58.00 in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on Mercury Systems from $25.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.14.

Mercury Systems Trading Up 17.5 %

The firm’s 50-day moving average price is $41.04 and its 200-day moving average price is $38.23. The company has a quick ratio of 2.59, a current ratio of 4.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $2.95 billion, a P/E ratio of -24.02 and a beta of 0.79.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results 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 13.80% and a negative return on equity of 3.96%. As a group, equities research analysts expect that Mercury Systems, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,527 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the sale, the chief operating officer now directly owns 113,488 shares of the company’s stock, valued at approximately $4,403,334.40. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MRCY. Signaturefd LLC raised its holdings in shares of Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock worth $25,000 after acquiring an additional 393 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Mercury Systems by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company’s stock worth $62,000 after purchasing an additional 503 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $75,000. Covestor Ltd increased its stake in shares of Mercury Systems by 41.2% during the third quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock valued at $78,000 after buying an additional 620 shares during the period. Finally, KBC Group NV raised its holdings in shares of Mercury Systems by 49.4% in the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after purchasing an additional 825 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Company Profile

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.