Mercury Systems (NASDAQ:MRCY) Sets New 52-Week High – Still a Buy?

Mercury Systems, Inc. (NASDAQ:MRCY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $44.47 and last traded at $43.59, with a volume of 75251 shares. The stock had previously closed at $43.91.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MRCY shares. Truist Financial raised their target price on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada increased their price target on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. Jefferies Financial Group upgraded Mercury Systems from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $30.00 to $42.00 in a report on Monday. JPMorgan Chase & Co. raised their target price on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price target on the stock in a research note on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.50.

Mercury Systems Trading Down 5.6 %

The business has a 50 day simple moving average of $36.55 and a 200-day simple moving average of $33.68. The company has a current ratio of 4.10, a quick ratio of 2.59 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -20.88 and a beta of 0.71.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.32. The company had revenue of $248.56 million during the quarter, compared to the consensus estimate of $223.80 million. Mercury Systems had a negative return on equity of 3.96% and a negative net margin of 13.80%. On average, equities analysts predict that Mercury Systems, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Stephanie Georges sold 1,340 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $52,916.60. Following the transaction, the executive vice president now owns 32,259 shares of the company’s stock, valued at approximately $1,273,907.91. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Ballhaus sold 6,549 shares of Mercury Systems stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $258,620.01. Following the transaction, the chief executive officer now owns 353,481 shares in the company, valued at approximately $13,958,964.69. This trade represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,099 shares of company stock valued at $865,740 over the last three months. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently modified their holdings of MRCY. Signaturefd LLC increased its stake in Mercury Systems by 144.0% in the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock worth $25,000 after purchasing an additional 393 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Mercury Systems by 1,126.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock worth $31,000 after purchasing an additional 1,070 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Mercury Systems by 216.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock valued at $64,000 after purchasing an additional 1,622 shares during the period. Covestor Ltd boosted its position in shares of Mercury Systems by 41.2% in the third quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock worth $78,000 after buying an additional 620 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Mercury Systems during the 2nd quarter worth about $81,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.