Mercury Systems (NASDAQ:MRCY) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Mercury Systems (NASDAQ:MRCY) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other research analysts also recently commented on MRCY. Jefferies Financial Group upgraded Mercury Systems from an “underperform” rating to a “hold” rating and boosted their target price for the company from $30.00 to $42.00 in a research note on Monday, November 11th. Truist Financial boosted their target price on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price on the stock in a research note on Monday, August 19th. Robert W. Baird boosted their target price on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and an average price target of $36.29.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $38.37 on Thursday. Mercury Systems has a 1-year low of $25.31 and a 1-year high of $44.63. 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 company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -18.72 and a beta of 0.78. The stock’s fifty day simple moving average is $37.66 and its 200-day simple moving average is $34.85.

Insider Activity at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 1,527 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $38.80, for a total transaction of $59,247.60. Following the transaction, the chief operating officer now directly owns 113,488 shares in the company, valued at $4,403,334.40. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Mercury Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC increased its stake in Mercury Systems by 0.6% during the second quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock valued at $173,180,000 after acquiring an additional 36,923 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of Mercury Systems in the 2nd quarter valued at approximately $526,000. Raymond James & Associates grew its stake in shares of Mercury Systems by 40.0% in the 3rd quarter. Raymond James & Associates now owns 93,454 shares of the technology company’s stock valued at $3,458,000 after purchasing an additional 26,718 shares during the period. Van ECK Associates Corp grew its stake in shares of Mercury Systems by 52.1% in the 2nd quarter. Van ECK Associates Corp now owns 171,618 shares of the technology company’s stock valued at $4,632,000 after purchasing an additional 58,805 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Mercury Systems by 28.7% in the 2nd quarter. Sei Investments Co. now owns 279,327 shares of the technology company’s stock valued at $7,539,000 after purchasing an additional 62,371 shares during the period. 95.99% of the stock is currently owned by institutional investors.

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.