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

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) 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 trading hands.

Analyst Upgrades and Downgrades

MRCY has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Mercury Systems from $26.00 to $36.00 and gave the company 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 price target for the company in a research report on Monday, August 19th. Truist Financial increased their price target on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research report on Saturday, October 5th. Finally, Royal Bank of Canada increased their price target on Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Mercury Systems currently has an average rating of “Hold” and an average target price of $33.50.

Mercury Systems Price Performance

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

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $223.80 million. On average, equities research analysts forecast that Mercury Systems, Inc. will post -0.52 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, CEO William L. Ballhaus sold 6,549 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $258,620.01. Following the completion of the sale, the chief executive officer now directly owns 353,481 shares of the company’s stock, valued at $13,958,964.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William L. Ballhaus sold 6,549 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $258,620.01. Following the completion of the sale, the chief executive officer now directly owns 353,481 shares of the company’s stock, valued at $13,958,964.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jana Partners Management, Lp acquired 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the purchase, the director now directly owns 6,944,633 shares in the company, valued at $258,687,579.25. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 22,099 shares of company stock valued at $865,740 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC raised its stake in shares of Mercury Systems by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,329,265 shares of the technology company’s stock valued at $49,183,000 after acquiring an additional 20,300 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Mercury Systems by 43.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company’s stock worth $62,000 after buying an additional 503 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings 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 worth $217,000 after buying an additional 695 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Mercury Systems by 144.0% during the third quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock worth $25,000 after buying an additional 393 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings 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 worth $3,458,000 after buying an additional 26,718 shares during the last quarter. 95.99% of the stock is 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.