Mercury Systems Inc (NASDAQ:MRCY – Get Free Report) traded up 6.6% on Thursday . The company traded as high as $105.73 and last traded at $105.42. 114,739 shares were traded 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 Analyst Weigh In
MRCY has been the subject of a number of recent analyst reports. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Canaccord Genuity Group boosted their target price on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Friday, July 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.78.
View Our Latest Research Report on MRCY
Mercury Systems Trading Up 6.1%
Mercury Systems (NASDAQ:MRCY – Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The firm had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Equities analysts predict that Mercury Systems Inc will post 0.35 earnings per share for the current year.
Insider Transactions at Mercury Systems
In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares of the company’s stock, valued at $2,980,725.48. This represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,250 shares of company stock valued at $1,733,220 over the last three months. Company insiders own 1.40% of the company’s stock.
Institutional Investors Weigh In On Mercury Systems
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. AQR Capital Management LLC bought a new stake in Mercury Systems during the first quarter worth about $755,000. Goldman Sachs Group Inc. raised its position in Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Mercury Systems by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after buying an additional 18,916 shares during the period. Jane Street Group LLC grew its stake in shares of Mercury Systems by 161.3% in the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after purchasing an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Mercury Systems by 30.3% in the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock valued at $6,731,000 after purchasing an additional 29,057 shares during the period. 95.99% of the stock is owned by institutional investors.
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.
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