Mercury Systems Inc (NASDAQ:MRCY) Short Interest Down 5.0% in July

Mercury Systems Inc (NASDAQ:MRCY) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 2,358,200 shares, a drop of 5.0% from the June 15th total of 2,482,500 shares. Based on an average daily volume of 582,900 shares, the days-to-cover ratio is currently 4.0 days. Approximately 5.0% of the shares of the stock are short sold.

Shares of MRCY traded up $7.61 during mid-day trading on Wednesday, reaching $79.04. The company’s stock had a trading volume of 363,825 shares, compared to its average volume of 270,753. The company has a fifty day moving average price of $69.78. The company has a market cap of $4.30 billion, a P/E ratio of 69.95, a price-to-earnings-growth ratio of 3.98 and a beta of 1.10. Mercury Systems has a 1 year low of $39.73 and a 1 year high of $79.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.13 and a current ratio of 4.53.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.11. The company had revenue of $176.96 million during the quarter, compared to analyst estimates of $171.98 million. Mercury Systems had a return on equity of 9.24% and a net margin of 6.99%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. Sell-side analysts predict that Mercury Systems will post 1.5 EPS for the current year.

Several equities research analysts have recently weighed in on the company. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 1st. BidaskClub lowered Zai Lab from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Canaccord Genuity set a $107.00 price objective on Columbia Sportswear and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.25.

In other Mercury Systems news, CEO Mark Aslett sold 10,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $68.10, for a total transaction of $681,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,440 shares of the company’s stock, valued at approximately $23,320,164. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 30,000 shares of company stock valued at $2,024,200. 2.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Mercury Systems during the first quarter worth $44,000. Advisors Preferred LLC purchased a new stake in shares of Mercury Systems during the first quarter worth $106,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Mercury Systems during the first quarter worth $128,000. NEXT Financial Group Inc purchased a new stake in shares of Mercury Systems during the second quarter worth $170,000. Finally, Meitav Dash Investments Ltd. purchased a new stake in shares of Mercury Systems during the first quarter worth $203,000. Institutional investors own 84.38% of the company’s stock.

Mercury Systems Company Profile

Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.

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