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Mullen Automotive Inc. (MULN) – Don’t Believe the Hype: Check The Facts

Mullen Automotive Inc. (NASDAQ: MULN) is -92.98% lower on its value in year-to-date trading and has touched a low of $0.40 and a high of $15.90 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MULN stock was last observed hovering at around $0.41 in the last trading session, with the day’s loss setting it -0.04% off its average median price target of $23.00 for the next 12 months. It is also 98.39% off the consensus price target high of $23.00 offered by 0 analysts, but current levels are 98.39% higher than the price target low of $23.00 for the same period.

Currently trading at $0.37, the stock is -37.21% and -52.55% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 83.9 million and changing -9.58% at the moment leaves the stock -81.81% off its SMA200. MULN registered -95.65% loss for a year compared to 6-month loss of -88.20%.

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The stock witnessed a -45.90% gain in the last 1 month and extending the period to 3 months gives it a -74.86%, and is -32.44% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.45% over the week and 11.30% over the month.

Distance from 52-week low is -8.23% and -97.69% from its 52-week high.

Mullen Automotive Inc. (MULN) Analyst Forecasts

Mullen Automotive Inc. is expected to release its quarterly report on 11/14/2022.The EPS is expected to shrink by -536.60% this year

Mullen Automotive Inc. (MULN) Top Institutional Holders

The shares outstanding are 509.29M, and float is at 411.35M with Short Float at 15.25%.

Mullen Automotive Inc. (MULN) Insider Activity

A total of 14 insider transactions have happened at Mullen Automotive Inc. (MULN) in the last six months, with sales accounting for 11 and purchases happening 3 times. The most recent transaction is an insider sale by POPA CALIN, the company’s Pres. Mullen Automotive. SEC filings show that POPA CALIN sold 50,000 shares of the company’s common stock on Sep 08 at a price of $0.67 per share for a total of $33500.0. Following the sale, the insider now owns 9729.0 shares.

Mullen Automotive Inc. disclosed in a document filed with the SEC on Jun 29 that Michery David (CEO, President) sold a total of 350,000 shares of the company’s common stock. The trade occurred on Jun 29 and was made at $1.12 per share for $0.39 million. Following the transaction, the insider now directly holds 7.41 million shares of the MULN stock.

Still, SEC filings show that on Jun 15, Michery David (CEO, President) disposed off 150,000 shares at an average price of $1.10 for $0.17 million. The insider now directly holds 7,761,066 shares of Mullen Automotive Inc. (MULN).

Mullen Automotive Inc. (MULN): Who are the competitors?

The company’s main competitors (and peers) include Park City Group Inc. (PCYG) that is trading 10.75% up over the past 12 months.

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