Mullen Automotive Inc. (NASDAQ:MULN) shares traded -7.79% lower at $0.27 on Wall Street last session.
As we calculate the median target price by taking the range between a high of $23.00 and a low of $23.00, we find $23.00. Given the previous closing price of $0.29, this indicates a potential upside of 7831.03 percent. MULN stock price is now -30.58% away from the 50-day moving average and -76.37% away from the 200-day moving average. The market capitalization of the company currently stands at $144.82M.
Brokers who have rated the stock have averaged $23.00 as their price target over the next twelve months.
In other news, Michery David, CEO, President sold 750,000 shares of the company’s stock on Sep 22. The stock was sold for $297,375 at an average price of $0.40. Upon completion of the transaction, the CEO, President now directly owns 15,843,789 shares in the company, valued at $4.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 08, Pres. Mullen Automotive POPA CALIN sold 50,000 shares of the business’s stock. A total of $33,500 was realized by selling the stock at an average price of $0.67. This leaves the insider owning 9,729 shares of the company worth $2626.83. Insiders disposed of 22,318,342 shares of company stock worth roughly $6.03 million over the past 1 year. A total of 9.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MULN stock. A new stake in Mullen Automotive Inc. shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $1,339,000. CITADEL ADVISORS LLC invested $379,000 in shares of MULN during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Mullen Automotive Inc. valued at approximately $358,000. BNP PARIBAS ARBITRAGE, SNC acquired a new stake in MULN for approximately $221,000. MAN GROUP PLC purchased a new stake in MULN valued at around $129,000 in the second quarter.
Mullen Automotive Inc. (NASDAQ: MULN) opened at $0.2822 on Wednesday. During the past 12 months, Mullen Automotive Inc. has had a low of $0.21 and a high of $15.90. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.10, and a quick ratio of 1.10.
The company reported revenue of $18.22 million for the quarter, compared to $6.41 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 184.44 percent.
Mullen Automotive Inc.(MULN) Company Profile
Mullen Automotive, Inc., an electric vehicle company, manufactures and distributes electric vehicles. It also operates CarHub, a digital platform that leverages AI to offer an interactive solution for buying, selling, and owning a car; and provides battery technology and emergency point-of-care solutions. The company was founded in 2014 and is based in Brea, California.