Merlin Inc. (NASDAQ:MRLN) shares are trending on Thursday night.
MRLN shares jumped 32.71% in after-hours trading to $9.49 on Thursday after the company announced the successful completion of the Critical Design Review (CDR) for its C-130J autonomy program with the U.S. Special Operations Command (USSOCOM).
What You Should Know
The C-130J Autonomy Program is a joint initiative between USSOCOM and Merlin to develop an AI-powered autonomy stack for the C-130J Super Hercules, one of the U.S. military’s tactical airlifters. The program aims to reduce crew workload across all phases of flight.
The completion of the CDR under Merlin’s existing IDIQ contract advances the program from design development into aircraft integration and a structured formal test campaign, including aircraft-level testing.
Matt George, CEO and founder of the Boston-based company, said, “Completing the Critical Design Review validates the architecture we’ve built for safe, scalable autonomy on large aircraft like the C-130J.”
Trading Metrics, Technical Analysis
Merlin has a market capitalization of $693.04 million, a 52-week high of $17 and a 52-week low of $5.78.
The Relative Strength Index (RSI) of MRLN stands at 43.39.
TD Cowen initiated coverage on MRLN with a Buy rating and an $11 price target.
The stock of the aerospace and defense technology company has dropped 29.95% over the past 12 months.
Currently, MRLN is trading at about 12.5% of its 52-week range, placing it near its 52-week low.
Price Action: The stock closed the regular session down 1.24% at $7.18, according to Benzinga Pro.
Benzinga’s Edge Stock Rankings indicate that MRLN has a negative price trend across all time frames.
Photo courtesy: Things on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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