Mercury Systems (NASDAQ:MRCY) Sets New 1-Year High After Earnings Beat

Mercury Systems, Inc. (NASDAQ:MRCY - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $42.90 and last traded at $41.97, with a volume of 6743 shares trading hands. The stock had previously closed at $34.19.

The technology company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.15. The business had revenue of $204.43 million for the quarter, compared to the consensus estimate of $181.08 million. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Alembic Global Advisors raised shares of Mercury Systems from a "neutral" rating to an "overweight" rating and set a $48.00 price target for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Mercury Systems from $26.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, September 5th. Truist Financial raised their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the company a "hold" rating in a research report on Wednesday, August 14th. Robert W. Baird boosted their price objective on Mercury Systems from $26.00 to $37.00 and gave the stock a "neutral" rating in a report on Wednesday, August 14th. Finally, StockNews.com raised Mercury Systems from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $33.50.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp purchased 13,600 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the acquisition, the director now owns 6,944,633 shares of the company's stock, valued at $258,687,579.25. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jana Partners Management, Lp purchased 13,600 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the transaction, the director now owns 6,944,633 shares in the company, valued at $258,687,579.25. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David E. Farnsworth sold 6,716 shares of Mercury Systems stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $265,214.84. Following the completion of the sale, the chief financial officer now directly owns 140,778 shares in the company, valued at approximately $5,559,323.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,099 shares of company stock worth $865,740 in the last 90 days. Insiders own 1.60% of the company's stock.

Institutional Trading of Mercury Systems

Several hedge funds have recently made changes to their positions in the company. Signaturefd LLC grew its stake in shares of Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company's stock worth $25,000 after acquiring an additional 393 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Mercury Systems by 1,126.3% in the second 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 position in shares of Mercury Systems by 216.0% in the second 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 lifted its stake in shares of Mercury Systems by 41.2% during the 3rd quarter. Covestor Ltd now owns 2,124 shares of the technology company's stock valued at $78,000 after buying an additional 620 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Mercury Systems in the 2nd quarter worth approximately $81,000. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Stock Up 23.5 %

The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. The company's fifty day moving average is $35.90 and its 200 day moving average is $33.09.

About Mercury Systems

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.