There’s Still Time to Buy Mullen Automotive Inc (NASDAQ:MULN) Stock

In yesterday’s Wall Street session, Mullen Automotive Inc (NASDAQ:MULN) shares traded at $0.31, up 3.88% from the previous session.

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 $0.30, this indicates a potential upside of 1724900.0 percent. MULN stock price is now -30.01% away from the 50-day moving average and -98.27% away from the 200-day moving average. The market capitalization of the company currently stands at $88.36M.

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 $0.41 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 $2669.41. Insiders disposed of 40,315,006 shares of company stock worth roughly $12.5 million over the past 1 year. A total of 6.06% of the company’s stock is owned by insiders.

On Monday morning Mullen Automotive Inc (NASDAQ: MULN) stock kicked off with the opening price of $0.3100. During the past 12 months, Mullen Automotive Inc has had a low of $0.22 and a high of $107.44. 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 $0.4396 and a two-hundred day moving average price translates $2.1033 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.

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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