Mullen Automotive Inc (NASDAQ: MULN) Is Worth A Shot If You’re A Risk-Capital Investor

In the last trading session, 64.29 million Mullen Automotive Inc (NASDAQ:MULN) shares changed hands as the company’s beta touched 2.16. With the company’s per share price at $0.19 changed hands at $0.02 or 9.66% during last session, the market valuation stood at $79.27M. MULN’s last price was a discount, traded about -56447.37% off its 52-week high of $107.44. The share price had its 52-week low at $0.17, which suggests the last value was 10.53% up since then. When we look at Mullen Automotive Inc’s average trading volume, we note the 10-day average is 54.41 million shares, with the 3-month average coming to 62.24 million.

Mullen Automotive Inc (NASDAQ:MULN) trade information

Instantly MULN was in green as seen at the end of in last trading. With action -1.99%, the performance over the past five days has been red. The jump to weekly highs of 0.2250 on Friday, 11/17/23 added 9.66% to the stock’s daily price. The company’s shares are showing year-to-date downside of -99.70%, with the 5-day performance at -1.99% in the red. However, in the 30-day time frame, Mullen Automotive Inc (NASDAQ:MULN) is -28.32% down. Looking at the short shares, we see there were 49.17 million shares sold at short interest cover period of 1.31 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 100.0% 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 -2723584.21% plunge from its current level, while the stock would need to soar -2723584.21% for it to hit the projected low.

Mullen Automotive Inc (MULN) estimates and forecasts

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 11.07%.

MULN Dividends

Mullen Automotive Inc is expected to release its next quarterly earnings report between January 11 and January 15.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.51% or 8.3 million shares worth $1.59 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Total U.S. Stock Market ETF and Vanguard Total Stock Market Index Fund. With 0.88 million shares estimated at $0.17 million under it, the former controlled 0.48% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 0.13% of the shares, roughly 0.24 million shares worth around $45523.0.

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