Ancora Advisors LLC Acquires New Position in Merlin, Inc. Common Stock $MRLN

Key Points

• Ancora Advisors acquired 1.08 million Merlin shares worth approximately $19.3 million, representing a 1.12% stake. J. Safra Asset Management also purchased a new position valued at about $5.4 million.
• Merlin shares opened at $3.35 after declining 2.3%, near the company’s 52-week low of $3.16. The company reported a quarterly loss of $1.40 per share, substantially worse than analysts’ expected loss of $0.28.
• Analyst sentiment remains mixed but leans positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $10.50, despite several recent target reductions.

Ancora Advisors LLC acquired a new stake in Merlin, Inc. Common Stock (NASDAQ:MRLN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,083,439 shares of the company's stock, valued at approximately $19,318,000. Ancora Advisors LLC owned 1.12% of Merlin, Inc. Common Stock at the end of the most recent reporting period.

Separately, J.Safra Asset Management Corp purchased a new position in shares of Merlin, Inc. Common Stock during the second quarter worth approximately $5,447,000.

Merlin, Inc. Common Stock Trading Down 2.3%

Shares of MRLN stock opened at $3.35 on Wednesday. The stock has a market capitalization of $338.58 million, a price-to-earnings ratio of -2.26 and a beta of 1.87. The company's 50 day simple moving average is $4.37. Merlin, Inc. Common Stock has a 52-week low of $3.16 and a 52-week high of $17.00.

Merlin, Inc. Common Stock (NASDAQ:MRLN - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($1.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($1.12). The business had revenue of $2.19 million during the quarter. On average, analysts anticipate that Merlin, Inc. Common Stock will post -2.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on MRLN shares. Northland Securities initiated coverage on Merlin, Inc. Common Stock in a research note on Tuesday, July 21st. They issued an "outperform" rating and a $10.00 price objective on the stock. TD Cowen decreased their target price on Merlin, Inc. Common Stock from $11.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, July 13th. Wall Street Zen cut Merlin, Inc. Common Stock to a "strong sell" rating in a report on Saturday, May 23rd. Weiss Ratings raised Merlin, Inc. Common Stock from a "sell (e-)" rating to a "sell (e)" rating in a research report on Tuesday, June 9th. Finally, Cantor Fitzgerald cut their price target on Merlin, Inc. Common Stock from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Merlin, Inc. Common Stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.50.

Merlin, Inc. Common Stock Company Profile

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.

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