Mullen Automotive Inc (NASDAQ: MULN) is -59.97% lower on its value in year-to-date trading and has touched a low of $6.20 and a high of $3870.00 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 $6.40 in the last trading session, with the day’s loss setting it -0.68%.
Currently trading at $5.72, the stock is -20.18% and -31.69% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.92 million and changing -10.63% at the moment leaves the stock -92.85% off its SMA200. MULN registered -99.84% loss for a year compared to 6-month loss of -88.47%. The firm has a 50-day simple moving average (SMA 50) of -$68.24 and a 200-day simple moving average (SMA200) of $0.04.
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The stock witnessed a -18.05% gain in the last 1 month and extending the period to 3 months gives it a -54.49%, and is -15.51% 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 6.69% over the week and 9.24% over the month.
Mullen Automotive Inc (MULN) has around 326 employees, a market worth around $37.47M and $0.37M in sales. Profit margin for the company is -177430.58%. Distance from 52-week low is -7.74% and -99.85% from its 52-week high. The company has generated returns on investments over the last 12 months (-295.46%).
Mullen Automotive Inc quarterly earnings per share for the current quarter are estimated at $3,600 with sales reaching $37.3M over the same period., but quarterly earnings will post 100.00% year-over-year. Quarterly sales are estimated to grow 152.00% in year-over-year returns.
51 institutions hold shares in Mullen Automotive Inc (MULN), with institutional investors hold 11.91% of the company’s shares. The shares outstanding are 6.55M, and float is at 6.44M with Short Float at 19.97%. Institutions hold 11.71% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 0.35 million shares valued at $0.34 million. The investor’s holdings represent 0.19% of the MULN Shares outstanding. As of Jun 29, 2023, the second largest holder is Two Sigma Investments, LP with 0.26 million shares valued at $0.25 million to account for 0.14% of the shares outstanding. The other top investors are Blackrock Inc. which holds 0.18 million shares representing 0.10% and valued at over $0.17 million, while Geode Capital Management, LLC holds 0.08% of the shares totaling 0.14 million with a market value of $0.14 million.
Mullen Automotive Inc (MULN) Insider Activity
The most recent transaction is an insider purchase by Michery David, the company’s CEO, President. SEC filings show that Michery David bought 102,040 shares of the company’s common stock on Aug 16 ’23 at a price of $0.98 per share for a total of $0.1 million. Following the purchase, the insider now owns 1.32 million shares.
