Truist Financial Raises Mercury Systems (NASDAQ:MRCY) Price Target to $31.00

Mercury Systems (NASDAQ:MRCY) had its target price raised by Truist Financial from $26.00 to $31.00 in a report released on Wednesday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on MRCY. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $24.00 to $26.00 and gave the company a neutral rating in a research report on Friday, May 24th. Robert W. Baird upped their target price on Mercury Systems from $26.00 to $37.00 and gave the company a neutral rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, Mercury Systems has a consensus rating of Hold and an average target price of $30.00.

Mercury Systems Price Performance

Shares of MRCY opened at $40.10 on Wednesday. The company has a current ratio of 4.58, a quick ratio of 2.93 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -17.06 and a beta of 0.68. Mercury Systems has a 52 week low of $25.31 and a 52 week high of $42.72. The stock has a 50 day moving average of $31.85 and a 200-day moving average of $30.22.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds have recently made changes to their positions in MRCY. Clearline Capital LP increased its holdings in shares of Mercury Systems by 18.4% in the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock valued at $14,213,000 after buying an additional 81,826 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Mercury Systems by 232.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,411 shares of the technology company’s stock worth $794,000 after purchasing an additional 20,571 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Mercury Systems during the second quarter valued at $526,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Mercury Systems in the 2nd quarter valued at $285,000. Finally, Squarepoint Ops LLC lifted its stake in Mercury Systems by 38.2% during the second quarter. Squarepoint Ops LLC now owns 66,209 shares of the technology company’s stock valued at $1,787,000 after buying an additional 18,316 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Company Profile

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.