Mullen Automotive Inc. (NASDAQ: MULN) Are Up 40.23%, Predicting What To Expect Ahead – Marketing Sentinel
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Mullen Automotive Inc. (NASDAQ: MULN) Are Up 40.23%, Predicting What To Expect Ahead

During the last session, Mullen Automotive Inc. (NASDAQ:MULN)’s traded shares were 69.74 million, with the beta value of the company hitting 2.76. At the end of the trading day, the stock’s price was $0.87, reflecting an intraday gain of 8.30% or $0.07. The 52-week high for the MULN share is $15.90, that puts it down -1727.59 from that peak though still a striking 40.23% gain since the share price plummeted to a 52-week low of $0.52. The company’s market capitalization is $269.32M, and the average trade volume was 146.30 million shares over the past three months.

Mullen Automotive Inc. (NASDAQ:MULN) trade information

Mullen Automotive Inc. (MULN) registered a 8.30% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 8.30% in intraday trading to $0.87 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -33.88%, and it has moved by -64.93% in 30 days. Based on these gigs, the overall price performance for the year is -90.70%.

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The consensus price target of analysts on Wall Street is $23.00, which implies an increase of 96.22% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $23.00 and $23.00 respectively. As a result, MULN is trading at a discount of -2543.68% off the target high and -2543.68% off the low.

Mullen Automotive Inc. (MULN) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 300.00% this quarter and then jump 146.40% in the quarter after that. In the rating firms’ projections, revenue will increase 100.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $37.3 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $37.1 million by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $14.8 million and $19.41 million respectively. In this case, analysts expect current quarter sales to grow by 152.00% and then jump by 91.10% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 3.70%. While earnings are projected to return -536.60% in 2022.

MULN Dividends

Mullen Automotive Inc. is due to release its next quarterly earnings between March 29 and April 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Mullen Automotive Inc. (NASDAQ:MULN)’s Major holders

Mullen Automotive Inc. insiders own 36.03% of total outstanding shares while institutional holders control 3.81%, with the float percentage being 5.96%.

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