Esousa Holdings LLC recently announced the acquisition of new stake in Mullen Automotive Inc (NASDAQ:MULN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 9,789.24% to 36.0 million shares with purchase of 35.64 million shares. This fresh investment now brings its stake to 8.72% valued currently at $5.47 million. In addition, The Vanguard Group, Inc. raised its holdings by 11.41 million to 11.76 million shares. And BlackRock Fund Advisors has lifted its position by 4,562.87% or 8.12 million shares – to 8.3 million shares.
With over 5.03 million Mullen Automotive Inc (MULN) shares trading Tuesday and a closing price of $11.03 on the day, the dollar volume was approximately $55.44 million. The shares have shown a negative half year performance of -91.04% and its price on 12/26/23 gained nearly 12.14%.
Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 53,085,994 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 22,553,505 shares.
Shares of Mullen Automotive Inc (NASDAQ: MULN) opened at $10.17, up $0.33 from a prior closing price of $9.84. However, the script later moved the day high at 11.68, up 12.14%. The company’s stock has a 5-day price change of -1.65% and -78.60% over the past three months. MULN shares are trading -99.83% year to date (YTD), with the 12-month market performance down to -99.79% lower. It has a 12-month low price of $6.95 and touched a high of $10743.75 over the same period. MULN has an average intraday trading volume of 984.42K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -22.38%, -47.26%, and -98.25% respectively.
Institutional ownership of Mullen Automotive Inc (NASDAQ: MULN) shares accounts for 16.82% of the company’s. Mutual fund holders own 2.66%, while other institutional holders and individual stakeholders account for 4.88% and 11.94% respectively.
It has a market capitalization of $45.57M and a beta (3y monthly) value of 2.04. The earnings-per-share (ttm) stands at -$26103.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 59.46% over the week and 26.45% over the month.
Analysts forecast that Mullen Automotive Inc (MULN) will achieve an EPS of $3,600 for the current quarter, $2,925 for the next quarter and $0 for 2022. The lowest estimate earnings-per-share for the quarter is $3,600 while analysts give the company a high EPS estimate of $3,600. Comparatively, EPS for the current quarter was -$1,800 a year ago.
