Stocks of Mullen Automotive Inc (NASDAQ:MULN) traded higher last session on Wall Street, down -8.65% to $0.22.
As we calculate the median target price by taking the range between a high of $5175.00 and a low of $5175.00, we find $5175.00. Given the previous closing price of $0.25, this indicates a potential upside of 2069900.0 percent. MULN stock price is now -59.02% away from the 50-day moving average and -98.97% away from the 200-day moving average. The market capitalization of the company currently stands at $41.22M.
Brokers who have rated the stock have averaged $5175.00 as their price target over the next twelve months.
In other news, Michery David, CEO, President bought 102,040 shares of the company’s stock on Aug 16. The stock was bought for $100,428 at an average price of $0.98. Upon completion of the transaction, the CEO, President now directly owns 1,322,083 shares in the company, valued at $0.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 06, CFO New Jonathan sold 159,066 shares of the business’s stock. A total of $36,506 was realized by selling the stock at an average price of $0.23. This leaves the insider owning 8,611 shares of the company worth $1894.42. Insiders disposed of 40,315,006 shares of company stock worth roughly $8.87 million over the past 1 year. A total of 0.81% 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 TWO SIGMA INVESTMENTS, LP during the first quarter worth $58,000. MILLENNIUM MANAGEMENT LLC invested $14,000 in shares of MULN during the first quarter. In the first quarter, XTX TOPCO LTD acquired a new stake in Mullen Automotive Inc valued at approximately $13,000. MITSUBISHI UFJ KOKUSAI ASSET MANAGEMENT CO., LTD. acquired a new stake in MULN for approximately $11,000. MAN GROUP PLC purchased a new stake in MULN valued at around $5,000 in the second quarter.
During the past 12 months, Mullen Automotive Inc has had a low of $0.24 and a high of $137.25. As of last week, the company has a debt-to-equity ratio of 0.05, a current ratio of 1.34, and a quick ratio of 1.28. The fifty day moving average price for MULN is $0.5304 and a two-hundred day moving average price translates $2.4818 for the stock.
The latest earnings results from Mullen Automotive Inc (NASDAQ: MULN) was released for Jun, 2023. According to the Auto Manufacturers Company, earnings per share came in at $11.25, beating analysts’ expectations of -$6.75 by 18. This compares to -$2.89 EPS in the same period last year. The net profit margin was -468896.07% and return on equity was -1009.76% for MULN. For the current quarter, analysts expect MULN to generate $37.3M in revenue.
