Nothing is Better Than Mullen Automotive Inc. (MULN) stock at the moment

Mullen Automotive Inc. (NASDAQ: MULN) stock fell -12.03% on Wednesday to $0.80 against a previous-day closing price of $0.91. With 43.79 million shares changed hands, the volume of the stock remained heavier than its average volume of 17.9 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.8726 whereas the lowest price it dropped to was $0.8000. The 52-week range on MULN shows that it touched its highest point at $42.75 and its lowest point at $0.88 during that stretch. Beta for the stock currently stands at 2.50.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MULN was down-trending over the past week, with a drop of -34.92%, but this was down by -62.77% over a month. Three-month performance dropped to -86.82% while six-month performance fell -87.56%. The stock lost -96.95% in the past year, while it has lost -88.80% so far this year.

Float and Shares Shorts:

At present, 172.51 million MULN shares are outstanding with a float of 164.53 million shares on hand for trading. On Apr 27, 2023, short shares totaled 17.35 million, which was 11.44% higher than short shares on Mar 30, 2023. In addition to Mr. David Michery as the firm’s Founder, Chairman, Pres & CEO, Mr. Jonathan New serves as its Chief Financial Officer.

Institutional Ownership:

Other institutions hold 0.00% of MULN, in contrast to 0.00% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in MULN with 0.00% of the stake, State Street Global Advisors Trus holds 34,711 shares worth 34,711. With a 0.00% stake in MULN, the Nationwide Small Cap Index Fund is the largest stakeholder. A total of 2,980 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 0.00% of MULN stock, is the second-largest Mutual Fund holder. It holds 869,272 shares valued at 0.0. iShares Russell 2000 Growth ETF holds 0.00% of the stake in MULN, owning 308,531 shares worth 0.0.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MULN reported revenue of $0.00 and operating income of -$18.05M. The EBITDA in the recently reported quarter was -$53.14M and diluted EPS was -$4.00.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MULN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MULN analysts setting a high price target of $575.00 and a low target of $575.00, the average target price over the next 12 months is $575.00. Based on these targets, MULN could surge 71775.0% to reach the target high and rise by 71775.0% to reach the target low. Reaching the average price target will result in a growth of 71775.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded MULN stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 159,066 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 166,856,785 while 60,009,841 shares were sold.

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