Two Sigma Investments LP recently announced the acquisition of new stake in Mullen Automotive Inc. (NASDAQ:MULN). This fresh investment now brings its stake to 0.14% valued currently at $0.14 million. In addition, Geode Capital Management LLC raised its holdings by 29959.0 to 0.14 million shares. And SSgA Funds Management, Inc. has lifted its position by 4.18% or 3874.0 shares – to 96530.0 shares.
With over 171.11 million Mullen Automotive Inc. (MULN) shares trading Friday and a closing price of $0.68 on the day, the dollar volume was approximately $116.35 million. The shares have shown a negative half year performance of -97.97% and its price on 09/15/23 gained nearly 19.30%. Currently, there are 184.17M common shares owned by the public and among those 168.72M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 0 analysts who have offered their price forecasts for MULN have a consensus price objective of $5175.00. The analysts have set the share’s price value over the next 12 months at a high of $5175.00 and a low of $5175.00. But an upside of 99.99% will see the stock hit the forecast high price target while median target price for the stock is $5175.00.
Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 166,514,285 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 59,018,744 shares.
The top 3 mutual fund holders in Mullen Automotive Inc. are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market ETF owns 0.24 million shares of the company’s stock, all valued at over $0.13 million. The company bought an additional 1.0 shares recently to bring their total holdings to about 0.13% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.05% of the shares outstanding.
Shares of Mullen Automotive Inc. (NASDAQ: MULN) opened at $0.6192, up $0.05 from a prior closing price of $0.57. However, the script later moved the day high at 0.7193, up 19.30%. The company’s stock has a 5-day price change of 62.18% and -71.12% over the past three months. MULN shares are trading -98.94% year to date (YTD), with the 12-month market performance down to -99.43% lower. It has a 12-month low price of $0.39 and touched a high of $137.25 over the same period. MULN has an average intraday trading volume of 61.18 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 20.91%, -30.38%, and -97.61% respectively.
Institutional ownership of Mullen Automotive Inc. (NASDAQ: MULN) shares accounts for 5.10% of the company’s 184.17M shares outstanding. Mutual fund holders own 0.38%, while other institutional holders and individual stakeholders account for 0.57% and — respectively.
It has a market capitalization of $105.00M and a beta (3y monthly) value of 2.28. The earnings-per-share (ttm) stands at -$327.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.86% over the week and 26.72% over the month.
Analysts forecast that Mullen Automotive Inc. (MULN) will achieve an EPS of $36 for the current quarter, $29.25 for the next quarter and $0 for 2022. The lowest estimate earnings-per-share for the quarter is $36 while analysts give the company a high EPS estimate of $36. Comparatively, EPS for the current quarter was -$18 a year ago.