Mercury Systems (NASDAQ:MRCY) Stock Passes Above 200-Day Moving Average - Here's What Happened

Mercury Systems, Inc. (NASDAQ:MRCY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.84 and traded as high as $34.11. Mercury Systems shares last traded at $33.66, with a volume of 268,810 shares changing hands.

Analyst Ratings Changes

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

Mercury Systems Stock Performance

The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -14.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. The stock has a fifty day simple moving average of $36.32 and a two-hundred day simple moving average of $32.91.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.32. The company had revenue of $248.56 million for the quarter, compared to analysts' expectations of $223.80 million. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. Analysts forecast that Mercury Systems, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In other news, Director Debora A. Plunkett sold 1,843 shares of the firm's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $38.07, for a total transaction of $70,163.01. Following the completion of the sale, the director now directly owns 11,339 shares of the company's stock, valued at $431,675.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Mercury Systems news, Director Debora A. Plunkett sold 1,843 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the completion of the transaction, the director now owns 11,339 shares in the company, valued at $431,675.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jana Partners Management, Lp purchased 13,600 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the acquisition, the director now owns 6,944,633 shares of the company's stock, valued at approximately $258,687,579.25. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 22,099 shares of company stock valued at $865,740 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRCY. Sei Investments Co. raised its holdings in Mercury Systems by 27.0% in the first quarter. Sei Investments Co. now owns 216,956 shares of the technology company's stock worth $6,400,000 after purchasing an additional 46,132 shares in the last quarter. Jane Street Group LLC lifted its holdings in Mercury Systems by 102.6% during the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company's stock valued at $7,597,000 after purchasing an additional 130,396 shares in the last quarter. Natixis purchased a new position in shares of Mercury Systems in the first quarter valued at about $693,000. Van ECK Associates Corp boosted its stake in Mercury Systems by 258.7% in the 1st quarter. Van ECK Associates Corp now owns 112,813 shares of the technology company's stock worth $3,328,000 after purchasing an additional 81,364 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of 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 worth $173,180,000 after acquiring an additional 36,923 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

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.