Mercury Systems (NASDAQ:MRCY) Reaches New 1-Year High Following Better-Than-Expected Earnings

Mercury Systems, Inc. (NASDAQ:MRCY) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $42.90 and last traded at $41.97, with a volume of 6743 shares traded. The stock had previously closed at $34.19.

The technology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.15. The firm had revenue of $204.43 million during the quarter, compared to analysts’ expectations of $181.08 million. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 14th. Robert W. Baird increased their target price on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Truist Financial boosted their price target on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.50.

Insider Transactions at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the completion of the transaction, the chief operating officer now owns 130,408 shares of the company’s stock, valued at $5,149,811.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the sale, the chief operating officer now owns 130,408 shares of the company’s stock, valued at $5,149,811.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the transaction, the executive vice president now owns 32,259 shares of the company’s stock, valued at $1,273,907.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,099 shares of company stock valued at $865,740. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mercury Systems

Several large investors have recently added to or reduced their stakes in MRCY. Sei Investments Co. boosted its holdings in shares of Mercury Systems by 27.0% in the 1st quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock worth $6,400,000 after purchasing an additional 46,132 shares during the period. Jane Street Group LLC raised its stake in shares of Mercury Systems by 102.6% in the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after acquiring an additional 130,396 shares during the period. Natixis bought a new stake in shares of Mercury Systems in the 1st quarter worth about $693,000. William Blair Investment Management LLC boosted its stake in shares of Mercury Systems by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock worth $173,180,000 after purchasing an additional 36,923 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Mercury Systems during the 2nd quarter valued at about $526,000. 95.99% of the stock is owned by institutional investors.

Mercury Systems Price Performance

The stock’s 50-day moving average is $35.90 and its two-hundred day moving average is $33.09. The company has a market capitalization of $2.47 billion, a PE ratio of -17.38 and a beta of 0.71. The company has a current ratio of 4.07, a quick ratio of 2.64 and a debt-to-equity ratio of 0.40.

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.