The stock of Mullen Automotive Inc. (NASDAQ:MULN) last traded at $1.19, down -3.25% from the previous session.
As we calculate the median target price by taking the range between a high of $575.00 and a low of $575.00, we find $575.00. Given the previous closing price of $1.23, this indicates a potential upside of 46647.97 percent. MULN stock price is now -52.82% away from the 50-day moving average and -85.21% away from the 200-day moving average. The market capitalization of the company currently stands at $199.02M.
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Brokers who have rated the stock have averaged $575.00 as their price target over the next twelve months.
In other news, New Jonathan, CFO sold 159,066 shares of the company’s stock on Mar 06. The stock was sold for $36,506 at an average price of $0.23. Upon completion of the transaction, the CFO now directly owns 8,611 shares in the company, valued at $10247.09. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 16, CEO, President Michery David sold 14,937,660 shares of the business’s stock. A total of $4,726,276 was realized by selling the stock at an average price of $0.32. This leaves the insider owning 113,665,510 shares of the company worth $135.26 million. Insiders disposed of 60,759,841 shares of company stock worth roughly $72.3 million over the past 1 year. A total of 4.90% 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 AQR CAPITAL MANAGEMENT LLC during the first quarter worth $76,000. NWAM LLC invested $43,000 in shares of MULN during the first quarter. In the first quarter, BAADER BANK AKTIENGESELLSCHAFT acquired a new stake in Mullen Automotive Inc. valued at approximately $12,000. WELLINGTON SHIELDS CAPITAL MANAGEMENT, LLC acquired a new stake in MULN for approximately $12,000. SUNBELT SECURITIES, INC. purchased a new stake in MULN valued at around $10,000 in the second quarter.
With an opening price of $1.2400 on Thursday morning, Mullen Automotive Inc. (NASDAQ: MULN) set off the trading day. During the past 12 months, Mullen Automotive Inc. has had a low of $1.17 and a high of $42.75. The fifty day moving average price for MULN is $2.4468 and a two-hundred day moving average price translates $7.9405 for the stock.
The latest earnings results from Mullen Automotive Inc. (NASDAQ: MULN) was released for Mar, 2023. According to the Auto Manufacturers Company, earnings per share came in at $1.25, beating analysts’ expectations of -$0.75 by 2. This compares to -$157.88 EPS in the same period last year. The company reported revenue of $67.89 million for the quarter, compared to $30.45 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 122.94 percent. For the current quarter, analysts expect MULN to generate $37.3M in revenue.
Mullen Automotive Inc.(MULN) Company Profile
Mullen Automotive, Inc., an electric vehicle company, manufactures and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California.
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