Mercury Systems (NASDAQ:MRCY) Shares Up 6.6% - What's Next?

Key Points

• Mercury Systems shares jumped 6.6% on Thursday, trading as high as $105.73, though volume was well below average at about 114,739 shares.
• Analyst sentiment is mixed but generally supportive: several firms raised ratings or price targets, and MarketBeat shows a Moderate Buy consensus with a $95.78 target price.
• The company recently posted stronger-than-expected quarterly results, with EPS of $0.27 versus $0.06 expected and revenue up 11.5% year over year to $235.76 million.

Shares of Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) rose 6.6% during trading on Thursday . The stock traded as high as $105.73 and last traded at $105.42. Approximately 114,739 shares traded hands during trading, a decline of 83% from the average daily volume of 665,043 shares. The stock had previously closed at $98.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MRCY shares. Zacks Research raised Mercury Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Canaccord Genuity Group increased their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Mercury Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, Truist Financial upgraded shares of Mercury Systems to a "strong-buy" rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, three have given 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 has a consensus rating of "Moderate Buy" and a consensus target price of $95.78.

Mercury Systems Stock Up 6.1%

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 cap of $6.30 billion, a price-to-earnings ratio of -437.98 and a beta of 0.93. The firm has a 50 day moving average price of $107.80 and a 200-day moving average price of $93.44.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same period last year, the company earned $0.06 earnings per share. The company's revenue was up 11.5% on a year-over-year basis. As a group, equities analysts predict that Mercury Systems Inc will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the company'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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the transaction, the director directly owned 52,448 shares in the company, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,250 shares of company stock valued at $1,733,220 over the last ninety days. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Mercury Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after buying an additional 208 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Mercury Systems in the 4th quarter valued at approximately $35,000. Hollencrest Capital Management bought a new position in Mercury Systems during the 4th quarter worth approximately $37,000. Federated Hermes Inc. bought a new position in Mercury Systems during the 2nd quarter worth approximately $43,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Mercury Systems by 53.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company's stock valued at $48,000 after purchasing an additional 228 shares during the period. Institutional investors own 95.99% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.