Mercury Systems (NASDAQ:MRCY) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Mercury Systems, Inc. (NASDAQ:MRCY)’s stock price passed 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 changing hands.

Analysts Set New Price Targets

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

Mercury Systems Trading Down 0.4 %

The company’s fifty day simple moving average is $36.32 and its 200-day simple moving average is $32.91. The firm has a market capitalization of $1.98 billion, a PE ratio of -14.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.07 and a quick ratio of 2.64.

Mercury Systems (NASDAQ:MRCY) last issued 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 net margin of 16.48% and a negative return on equity of 4.92%. The firm had revenue of $248.56 million for the quarter, compared to analyst estimates of $223.80 million. As a group, sell-side analysts expect that Mercury Systems, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at $5,149,811.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $53,153.54. Following the transaction, the chief operating officer now directly owns 130,408 shares of the company’s stock, valued at $5,149,811.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephanie Georges sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the sale, the executive vice president now owns 32,259 shares of the company’s stock, valued at $1,273,907.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,099 shares of company stock worth $865,740. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MRCY. William Blair Investment Management LLC increased its position in 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 purchasing an additional 36,923 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Mercury Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,669,352 shares of the technology company’s stock worth $207,328,000 after buying an additional 53,387 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Mercury Systems by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,027,158 shares of the technology company’s stock valued at $54,713,000 after buying an additional 20,604 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Mercury Systems by 14.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company’s stock valued at $45,848,000 after acquiring an additional 199,600 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in Mercury Systems by 1.6% in the third quarter. Conestoga Capital Advisors LLC now owns 1,329,265 shares of the technology company’s stock worth $49,183,000 after acquiring an additional 20,300 shares during the period. Hedge funds and other 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.