Merlin, Inc. Common Stock (NASDAQ:MRLN) Issues Quarterly Earnings Results

Merlin, Inc. Common Stock (NASDAQ:MRLN) announced its quarterly earnings data on Thursday. The company reported ($1.40) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $2.19 million during the quarter.

Merlin, Inc. Common Stock Price Performance

Shares of MRLN traded up $0.26 during midday trading on Thursday, hitting $4.42. 1,306,518 shares of the stock traded hands, compared to its average volume of 1,507,518. Merlin, Inc. Common Stock has a 1-year low of $3.27 and a 1-year high of $17.00. The company has a market capitalization of $426.62 million, a price-to-earnings ratio of -11.95 and a beta of 1.87. The company’s 50 day simple moving average is $5.04.

Wall Street Analyst Weigh In

MRLN has been the subject of several research reports. TD Cowen decreased their price target on shares of Merlin, Inc. Common Stock from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, July 13th. Northland Securities started coverage on shares of Merlin, Inc. Common Stock in a research note on Tuesday, July 21st. They set an “outperform” rating and a $10.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Merlin, Inc. Common Stock in a report on Thursday, July 9th. They issued an “overweight” rating and a $11.00 target price on the stock. Zacks Research upgraded Merlin, Inc. Common Stock to a “hold” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen lowered Merlin, Inc. Common Stock to a “strong sell” rating in a report on Saturday, May 23rd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Merlin, Inc. Common Stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Institutional Trading of Merlin, Inc. Common Stock

An institutional investor recently bought a new stake in Merlin, Inc. Common Stock stock. J.Safra Asset Management Corp purchased a new stake in Merlin, Inc. Common Stock (NASDAQ:MRLN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,951 shares of the company’s stock, valued at approximately $5,447,000.

About Merlin, Inc. Common Stock

Merlin Inc is focused on developing autonomous flight software for legacy and next-generation airborne systems. Its aircraft-agnostic, AI-based software supports takeoff-to-landing autonomous operations for military and civil aviation programs. The company aims to build an AI-based operating software platform intended to support autonomous flight operations across a range of aircraft types.