Mercury Systems (NASDAQ:MRCY) Sees Large Volume Increase – Here’s What Happened

Mercury Systems, Inc. (NASDAQ:MRCY) shares saw an uptick in trading volume on Wednesday . 1,207,058 shares were traded during trading, an increase of 110% from the previous session’s volume of 575,307 shares.The stock last traded at $39.99 and had previously closed at $39.14.

Analysts Set New Price Targets

MRCY has been the topic of several recent research reports. Jefferies Financial Group raised shares of Mercury Systems from an “underperform” rating to a “hold” rating and boosted their price target for the company from $30.00 to $42.00 in a research report on Monday, November 11th. Robert W. Baird increased their price objective on 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 target price on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com downgraded Mercury Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, 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 research note on Monday, August 19th. Two investment 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. According to MarketBeat, Mercury Systems currently has an average rating of “Hold” and an average price target of $36.29.

Mercury Systems Price Performance

The firm has a market cap of $2.37 billion, a P/E ratio of -19.09 and a beta of 0.78. The company has a quick ratio of 2.59, a current ratio of 4.10 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $37.56 and a two-hundred day moving average of $34.79.

Insider Activity

In related news, COO Charles Roger Iv Wells sold 1,527 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the completion of the sale, the chief operating officer now directly owns 113,488 shares of the company’s stock, valued at approximately $4,403,334.40. This represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mercury Systems

Several hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC increased its position in Mercury Systems by 0.6% in the 2nd 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. Dark Forest Capital Management LP acquired a new position in Mercury Systems in the 2nd quarter worth about $526,000. Raymond James & Associates increased its position in Mercury Systems by 40.0% in the 3rd quarter. Raymond James & Associates now owns 93,454 shares of the technology company’s stock worth $3,458,000 after purchasing an additional 26,718 shares during the last quarter. Van ECK Associates Corp increased its position in Mercury Systems by 52.1% in the 2nd quarter. Van ECK Associates Corp now owns 171,618 shares of the technology company’s stock worth $4,632,000 after purchasing an additional 58,805 shares during the last quarter. Finally, Sei Investments Co. increased its position in Mercury Systems by 28.7% in the 2nd quarter. Sei Investments Co. now owns 279,327 shares of the technology company’s stock worth $7,539,000 after purchasing an additional 62,371 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other 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.