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

Mercury Systems Inc (NASDAQ:MRCY)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $122.64 and last traded at $122.33, with a volume of 967205 shares changing hands. The stock had previously closed at $110.22.

Analysts Set New Price Targets

Several analysts have recently issued reports on MRCY shares. Canaccord Genuity Group increased their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group lifted their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $105.00 target price on shares of Mercury Systems in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Finally, Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Trading Up 11.0%

The company’s fifty day moving average is $99.99 and its two-hundred day moving average is $89.48. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of -509.71 and a beta of 0.94. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. During the same quarter in the previous year, the business posted $0.06 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that Mercury Systems Inc will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the stock in a transaction on 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. Insiders sold a total of 21,875 shares of company stock valued at $2,040,874 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its stake in 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 last quarter. Leonteq Securities AG purchased a new stake in shares of Mercury Systems during the 4th quarter worth approximately $35,000. Hollencrest Capital Management acquired a new position in shares of Mercury Systems in the 4th quarter valued at $37,000. Federated Hermes Inc. acquired a new position in shares of Mercury Systems in the 2nd quarter valued at $43,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after buying an additional 228 shares during the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

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.