Mercury Systems (NASDAQ:MRCY) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Mercury Systems (NASDAQ:MRCY) announced its earnings results on Tuesday. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01), FiscalAI reports. The firm had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded down $8.36 during mid-day trading on Tuesday, reaching $105.00. 1,796,434 shares of the company’s stock were exchanged, compared to its average volume of 658,098. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of -437.50 and a beta of 0.95. The firm has a 50-day moving average price of $108.80 and a two-hundred day moving average price of $94.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. Mercury Systems has a 52 week low of $62.78 and a 52 week high of $128.45.

Insider Buying and Selling

In related news, Director Howard L. Lance sold 9,250 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total transaction of $922,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds and other institutional investors have recently modified their holdings of MRCY. Osaic Holdings Inc. increased its stake in shares of Mercury Systems by 53.2% during 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 in the last quarter. Hollencrest Capital Management purchased a new stake in Mercury Systems in the fourth quarter worth about $37,000. Federated Hermes Inc. purchased a new position in shares of Mercury Systems in the second quarter valued at about $43,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock valued at $50,000 after purchasing an additional 234 shares during the last quarter. Finally, Wexford Capital LP bought a new position in shares of Mercury Systems during the 3rd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MRCY shares. Deutsche Bank Aktiengesellschaft downgraded Mercury Systems to a “hold” rating in a report on Wednesday, August 12th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Piper Sandler began coverage on Mercury Systems in a research note on Wednesday, August 12th. They set an “overweight” rating and a $126.00 price objective on the stock. Finally, Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.00.

Mercury Systems Company Profile

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.