Mercury Systems (NASDAQ:MRCY) Shares Up 7.3% – Here’s What Happened

Mercury Systems Inc (NASDAQ:MRCY) shares shot up 7.3% during mid-day trading on Thursday . The company traded as high as $91.98 and last traded at $91.0010. 199,355 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 591,639 shares. The stock had previously closed at $84.80.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRCY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Wednesday, October 8th. Zacks Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. UBS Group set a $88.00 price objective on Mercury Systems in a research report on Thursday, October 2nd. Truist Financial set a $102.00 target price on Mercury Systems in a research report on Friday. Finally, Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Mercury Systems Stock Performance

The company has a quick ratio of 2.31, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $73.44 and a 200 day moving average price of $68.36. The firm has a market capitalization of $5.62 billion, a PE ratio of -164.00, a price-to-earnings-growth ratio of 3.93 and a beta of 0.78.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share (EPS) for the quarter. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%.The firm had revenue of $256.86 million for the quarter. Research analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp sold 1,000,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the sale, the director owned 4,966,675 shares of the company’s stock, valued at approximately $374,735,628.75. This represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Douglas Munro sold 1,329 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $73.42, for a total value of $97,575.18. Following the completion of the sale, the chief accounting officer owned 14,678 shares in the company, valued at approximately $1,077,658.76. The trade was a 8.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,003,029 shares of company stock valued at $75,673,358 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Large investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new position in shares of Mercury Systems during the third quarter worth about $32,000. AlphaQuest LLC lifted its stake in Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after acquiring an additional 168 shares during the last quarter. Osaic Holdings Inc. lifted 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 worth $32,000 after acquiring an additional 208 shares during the last quarter. Quaker Wealth Management LLC grew its holdings in Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Mercury Systems in the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.