During the last session, Mullen Automotive Inc. (NASDAQ:MULN)’s traded shares were 42.27 million, with the beta value of the company hitting 2.50. At the end of the trading day, the stock’s price was $0.80, reflecting an intraday loss of -12.03% or -$0.11. The 52-week high for the MULN share is $42.75, that puts it down -5243.75 from that peak though still a striking -10.0% loss since the share price plummeted to a 52-week low of $0.88. The company’s market capitalization is $121.43M, and the average intraday trading volume over the past 10 days was 34.48 million shares, and the average trade volume was 17.27 million shares over the past three months.
Mullen Automotive Inc. (NASDAQ:MULN) trade information
Mullen Automotive Inc. (MULN) registered a -12.03% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -12.03% in intraday trading to $0.80 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -34.92%, and it has moved by -62.77% in 30 days. Based on these gigs, the overall price performance for the year is -96.95%. The short interest in Mullen Automotive Inc. (NASDAQ:MULN) is 17.35 million shares and it means that shorts have 1.17 day(s) to cover.
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The consensus price target of analysts on Wall Street is $575.00, which implies an increase of 99.86% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $575.00 and $575.00 respectively. As a result, MULN is trading at a discount of -71775.0% off the target high and -71775.0% off the low.
Mullen Automotive Inc. (MULN) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2023. 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 11.10%. While earnings are projected to return 67.20% in 2023.
Mullen Automotive Inc. is due to release its next quarterly earnings on May 15. 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
The next largest institutional holding, with 2.95 million shares, is of Blackrock Inc.’s that is approximately 1.71% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $9.68 million.