Short Interest in Mercury Systems Inc (NASDAQ:MRCY) Decreases By 25.2%

Mercury Systems Inc (NASDAQ:MRCY) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 3,828,163 shares, a drop of 25.2% from the January 15th total of 5,120,404 shares. Based on an average daily volume of 658,591 shares, the short-interest ratio is presently 5.8 days. Approximately 6.5% of the shares of the stock are sold short. Approximately 6.5% of the shares of the stock are sold short. Based on an average daily volume of 658,591 shares, the short-interest ratio is presently 5.8 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price target on shares of Mercury Systems in a research note on Wednesday, November 5th. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, January 20th. Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price objective on shares of Mercury Systems in a report on Sunday, February 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems has an average rating of “Hold” and a consensus target price of $86.89.

Mercury Systems Stock Up 2.6%

Shares of NASDAQ:MRCY opened at $82.36 on Tuesday. The firm has a market cap of $4.94 billion, a P/E ratio of -155.40, a P/E/G ratio of 6.82 and a beta of 0.75. Mercury Systems has a 12-month low of $39.89 and a 12-month high of $103.84. The business has a fifty day simple moving average of $84.92 and a 200 day simple moving average of $76.14. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million during the quarter, compared to analysts’ expectations of $209.96 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts predict that Mercury Systems will post -0.08 earnings per share for the current year.

Insider Activity at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 400,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $81.00, for a total transaction of $32,400,000.00. Following the completion of the sale, the director directly owned 4,566,675 shares in the company, valued at $369,900,675. This represents a 8.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Mercury Systems

Several large investors have recently modified their holdings of the company. Emerald Advisers LLC increased its position in shares of Mercury Systems by 16.7% during the third quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company’s stock worth $41,261,000 after acquiring an additional 76,379 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Mercury Systems by 42.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 225,374 shares of the technology company’s stock valued at $17,444,000 after purchasing an additional 67,518 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Mercury Systems by 75.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 27,796 shares of the technology company’s stock worth $2,151,000 after purchasing an additional 11,989 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in Mercury Systems by 27.7% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 336,058 shares of the technology company’s stock worth $26,011,000 after purchasing an additional 72,840 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Mercury Systems by 406.1% in the second quarter. Squarepoint Ops LLC now owns 45,871 shares of the technology company’s stock worth $2,471,000 after purchasing an additional 36,807 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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.