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

Shares of Mercury Systems, Inc. (NASDAQ:MRCY) saw unusually-high trading volume on Wednesday . Approximately 1,207,058 shares were traded during mid-day 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 subject of a number of research reports. Robert W. Baird raised their price objective on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Jefferies Financial Group raised Mercury Systems from an “underperform” rating to a “hold” rating and lifted their target price for the company from $30.00 to $42.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com lowered Mercury Systems from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price target on the stock in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.29.

Mercury Systems Trading Up 1.4 %

The business has a 50-day simple moving average of $37.56 and a two-hundred day simple moving average of $34.79. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -19.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.10 and a quick ratio of 2.59.

Insider Activity

In other news, COO Charles Roger Iv Wells sold 1,527 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the transaction, the chief operating officer now owns 113,488 shares of the company’s stock, valued at approximately $4,403,334.40. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp grew its position in Mercury Systems by 12.3% during the third quarter. M&T Bank Corp now owns 71,218 shares of the technology company’s stock worth $2,635,000 after buying an additional 7,779 shares in the last quarter. Barclays PLC grew its holdings in Mercury Systems by 471.3% during the 3rd quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock worth $6,496,000 after acquiring an additional 144,831 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Mercury Systems during the 3rd quarter worth about $219,000. XTX Topco Ltd acquired a new stake in Mercury Systems during the 3rd quarter worth about $857,000. Finally, Stifel Financial Corp bought a new stake in Mercury Systems in the 3rd quarter valued at about $246,000. Institutional investors and hedge funds 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.