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Mullen Automotive Inc. (NASDAQ: MULN) Investors To Make Big Returns Again

In the last trading session, 171.11 million Mullen Automotive Inc. (NASDAQ:MULN) shares changed hands as the company’s beta touched 2.28. With the company’s per share price at $0.68 changed hands at $0.11 or 19.30% during last session, the market valuation stood at $105.00M. MULN’s last price was a discount, traded about -20083.82% off its 52-week high of $137.25. The share price had its 52-week low at $0.39, which suggests the last value was 42.65% up since then. When we look at Mullen Automotive Inc.’s average trading volume, we note the 10-day average is 75.54 million shares, with the 3-month average coming to 61.18 million.

Mullen Automotive Inc. (NASDAQ:MULN) trade information

Instantly MULN was in green as seen at the end of in last trading. With action 62.18%, the performance over the past five days has been green. The jump to weekly highs of 0.7193 on Friday, 09/15/23 added 19.30% to the stock’s daily price. The company’s shares are showing year-to-date downside of -98.94%, with the 5-day performance at 62.18% in the green. However, in the 30-day time frame, Mullen Automotive Inc. (NASDAQ:MULN) is -30.61% down. Looking at the short shares, we see there were 27.14 million shares sold at short interest cover period of 0.35 days.

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The consensus price target for the stock as assigned by Wall Street analysts is $5175.00, meaning bulls need an upside of 99.99% from its current market value. According to analyst projections, MULN’s forecast low is $5175.00 with $5175.00 as the target high. To hit the forecast high, the stock’s price needs a -760929.41% plunge from its current level, while the stock would need to soar -760929.41% for it to hit the projected low.

Mullen Automotive Inc. (MULN) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Mullen Automotive Inc. will rise 300.00%, while the growth in revenue is estimated to hit 146.40% for the next quarter. Year-over-year growth is forecast to reach 100.00% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $37.3 million. 1 analysts are of the opinion that Mullen Automotive Inc.’s revenue for the quarter ending Dec 2021 will be $37.1 million. The company’s revenue for the corresponding quarters a year ago was $14.8 million and $19.41 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 152.00%. The estimates for the next quarter sales put growth at 91.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 11.10%. The 2023 estimates are for Mullen Automotive Inc. earnings to increase by 67.20%.

MULN Dividends

Mullen Automotive Inc. is expected to release its next quarterly earnings report on August 14.

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

Two Sigma Investments, LP holds the second largest percentage of outstanding shares, with 0.14% or 0.26 million shares worth $0.17 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 0.24 million shares estimated at $0.16 million under it, the former controlled 0.13% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.05% of the shares, roughly 98891.0 shares worth around $67245.0.

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