Mullen Automotive Inc. (NASDAQ: MULN) Stock Sentiment: What’s Wall Street Saying?

Mullen Automotive Inc. (NASDAQ:MULN) price closed higher on Monday, March 21, jumping 10.69% above its previous close.

A look at the daily price movement shows that the last close reads $2.90, with intraday deals fluctuated between $2.82 and $4.1799. Taking into account the 52-week price action we note that the stock hit a 52-week high of $15.90 and 52-week low of $0.52. The stock added 312.70% on its value in the past month.

Mullen Automotive Inc., which has a market valuation of $94.41 million, is expected to release its quarterly earnings report Mar 29, 2022 – Apr 04, 2022. Analysts tracking MULN have forecast the quarterly EPS to grow by 0.16 per share this quarter, while the same analysts predict the annual EPS to hit $0.19 for the year 2022 and up to $0.75 for 2022. In this case, analysts estimate an annual EPS growth of 126.00% for the year and 294.70% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $37.3 million, with the likely lows of $37.3 million and highs of $37.3 million. The average estimate suggests sales growth for the quarter will likely rise by 152.00% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $131.4 million for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 100.00% above that which the company brought in 2021.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give MULN a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that MULN’s price is at present 158.10% off the SMA20 and 40.66% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 69.47, with weekly volatility standing at 34.14%. The indicator jumps to 39.45% when calculated based on the past 30 days. Mullen Automotive Inc. (NASDAQ:MULN)’s beta value is holding at 2.34, while the average true range (ATR) indicator is currently reading 0.51. Considering analysts have assigned the stock a price target range of $23.00-$23.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $23.00. Based on this estimate, we see that current price is roughly -616.51% off the estimated low and -616.51% off the forecast high. Investors will no doubt be excited to see the share price fall to $23.00, which is the median consensus price, and at that level MULN would be -616.51% from current price.

Turning out attention to how the Mullen Automotive Inc. stock has performed in comparison to its peers in the industry, here’s what we find: MULN’s stock is 10.69% on the day and -75.25% in the past 12 months, while Park City Group Inc. (PCYG) traded 1.42% in the last session and was positioned -7.73% down on its price 12 months ago. Elsewhere in the market, the S&P 500 Index has stumbled -0.04% in last trading session, with the Dow Jones Industrial also saw a negative session on the day with -0.58%.

An analysis of the Mullen Automotive Inc. (NASDAQ:MULN) stock in terms of its daily trading volume indicates that the 3-month average is 78.52 million.

Current records show that the company has 17.47M in outstanding shares. The insiders’ percentage holdings are 28.60% of outstanding shares while the percentage share held by institutions stands at 3.40%. But the -38.62% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.

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