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

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MRCY shares. Royal Bank of Canada upped their price target on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. Truist Financial upped their price target on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Robert W. Baird boosted their price objective on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Finally, StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Mercury Systems has a consensus rating of “Hold” and an average price target of $33.50.

Mercury Systems Trading Up 0.7 %

The business has a 50-day moving average price of $36.55 and a 200-day moving average price of $32.84. The firm has a market capitalization of $2.00 billion, a P/E ratio of -14.32 and a beta of 0.70. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40.

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

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the sale, the chief operating officer now directly owns 130,408 shares in the company, valued at $5,149,811.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Charles Roger Iv Wells sold 1,346 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $53,153.54. Following the sale, the chief operating officer now owns 130,408 shares in the company, valued at approximately $5,149,811.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $52,916.60. Following the sale, the executive vice president now owns 32,259 shares in the company, valued at $1,273,907.91. The trade was 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 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Mercury Systems

Several large investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC grew its holdings in shares of Mercury Systems by 1.6% during the third quarter. Conestoga Capital Advisors LLC now owns 1,329,265 shares of the technology company’s stock worth $49,183,000 after purchasing an additional 20,300 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Mercury Systems by 43.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company’s stock valued at $62,000 after acquiring an additional 503 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Mercury Systems by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,826 shares of the technology company’s stock valued at $217,000 after acquiring an additional 695 shares during the period. Signaturefd LLC lifted its stake in shares of Mercury Systems by 144.0% during the third quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock valued at $25,000 after acquiring an additional 393 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Mercury Systems by 40.0% during the third quarter. Raymond James & Associates now owns 93,454 shares of the technology company’s stock valued at $3,458,000 after acquiring an additional 26,718 shares during the period. Institutional investors own 95.99% of the company’s stock.

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.