Mercury Systems (NASDAQ:MRCY) Trading 9.5% Higher – Time to Buy?

Mercury Systems Inc (NASDAQ:MRCY) was up 9.5% on Tuesday . The stock traded as high as $120.00 and last traded at $120.7360. Approximately 366,781 shares traded hands during trading, a decline of 45% from the average session volume of 666,647 shares. The stock had previously closed at $110.22.

Analyst Ratings Changes

MRCY has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. 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. Finally, Canaccord Genuity Group increased their price target on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.

Mercury Systems Trading Up 1.5%

The stock’s 50-day moving average price is $100.77 and its 200 day moving average price is $89.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The firm has a market capitalization of $7.50 billion, a PE ratio of -520.53 and a beta of 0.94.

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

Insider Transactions at Mercury Systems

In other news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the sale, the director directly owned 52,448 shares of the company’s stock, valued at $4,686,753.28. The trade was a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 21,875 shares of company stock valued at $2,040,874. Insiders own 1.40% of the company’s stock.

Institutional Trading of Mercury Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its holdings 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 purchasing an additional 208 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Mercury Systems during the 4th quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems during the fourth quarter worth approximately $37,000. Federated Hermes Inc. purchased a new position in Mercury Systems in the 2nd quarter valued at about $43,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Mercury Systems by 53.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after buying an additional 228 shares in the last quarter. 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.