Mercury Systems (NASDAQ:MRCY) Stock Price Up 2.6% – Here’s What Happened

Mercury Systems, Inc. (NASDAQ:MRCY)’s share price 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 mid-day trading, a decline of 30% from the average daily volume of 564,332 shares. The stock had previously closed at $41.52.

Analyst Ratings Changes

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

Mercury Systems Stock Up 3.5 %

The company has a market cap of $2.56 billion, a price-to-earnings ratio of -27.54 and a beta of 0.86. The business has a 50-day simple moving average of $44.17 and a 200-day simple moving average of $40.83. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In related news, CAO Douglas Munro sold 595 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $26,251.40. Following the sale, the chief accounting officer now owns 14,572 shares in the company, valued at $642,916.64. This represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stuart Kupinsky sold 2,377 shares of Mercury Systems stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $104,873.24. Following the transaction, the executive vice president now directly owns 62,834 shares of the company’s stock, valued at approximately $2,772,236.08. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,314 shares of company stock worth $234,454 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $33,000. Sterling Capital Management LLC lifted its stake in Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after buying an additional 1,449 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mercury Systems during the 4th quarter valued at $75,000. KBC Group NV increased its position in Mercury Systems by 49.4% during the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock worth $105,000 after buying an additional 825 shares in the last quarter. Finally, FMR LLC increased its position in Mercury Systems by 46.5% during the third quarter. FMR LLC now owns 3,067 shares of the technology company’s stock worth $113,000 after buying an additional 974 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, 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.