Mercury Systems (NASDAQ:MRCY) Shares Pass Above 200 Day Moving Average – Here’s Why

Mercury Systems Inc (NASDAQ:MRCY) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $71.20 and traded as high as $99.81. Mercury Systems shares last traded at $99.57, with a volume of 997,011 shares traded.

Wall Street Analyst Weigh In

MRCY has been the subject of several recent research reports. Canaccord Genuity Group initiated coverage on shares of Mercury Systems in a research note on Thursday, October 2nd. They set a “buy” rating and a $88.00 target price for the company. Truist Financial set a $102.00 price objective on shares of Mercury Systems in a research report on Friday, January 9th. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a research note on Wednesday, November 5th. Finally, Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.25.

Mercury Systems Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 3.37 and a quick ratio of 2.31. The stock has a fifty day moving average price of $77.41 and a two-hundred day moving average price of $71.20. The company has a market cap of $5.98 billion, a P/E ratio of -174.68, a PEG ratio of 4.30 and a beta of 0.78.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. The business had revenue of $225.21 million during the quarter, compared to analyst estimates of $207.28 million. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS. On average, equities analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In other Mercury Systems news, Director Jana Partners Management, Lp sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the transaction, the director owned 4,966,675 shares of the company’s stock, valued at approximately $374,735,628.75. This trade represents a 16.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Debora A. Plunkett sold 1,700 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $73.99, for a total transaction of $125,783.00. Following the sale, the director owned 16,833 shares in the company, valued at $1,245,473.67. This trade represents a 9.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,003,029 shares of company stock valued at $75,673,358. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new stake in Mercury Systems in the third quarter worth approximately $32,000. Osaic Holdings Inc. raised its stake in shares of Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares in the last quarter. Quaker Wealth Management LLC lifted its holdings in shares of Mercury Systems by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock valued at $35,000 after buying an additional 1,288 shares during the period. Federated Hermes Inc. bought a new position in Mercury Systems during the second quarter valued at about $43,000. Finally, AlphaQuest LLC boosted its stake in Mercury Systems by 41.9% during the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds 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.