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Mullen Automotive Inc. (MULN) Is Sitting On A Potential Gold Mine

Mullen Automotive Inc. (NASDAQ:MULN) concluded the trading at $0.57 on Thursday, September 14 with a rise of 14.94% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $0.50 with its price kept floating in the range of $0.505 and $0.647 on the day. Considering stock’s 52-week price range provides that MULN hit a high price of $137.25 and saw its price falling to a low level of $0.39 during that period. Over a period of past 1-month, stock came subtracting -44.12% in its value.

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With its current market valuation of $104.98 million. Analysts are in estimates of $36 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $42.75 for 2021 with estimates of that growing to $0 in next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $37.3 million. They suggested that in the process company could generate revenue of as low as $37.3 million which could climb up to $37.3 million to hit a high. The average estimate is representing an increase of 152.00% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $131.4 million in 2021, which will be 100.00% more from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review MULN stock’s current outlook then short term indicators are assigning it an average of 50% Sell, while medium term indicators are categorizing the stock at an average of 100% Sell. Long term indicators are suggesting an average of 100% Sell for it.

Digging deeper we become aware of the PEG ratio of the MULN stock which is currently positioned at 0. It further provides that stock’s current price level is -2.21% away from its 20-day simple moving average and is -42.77% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 39.67 while volatility remained at 15.50% over the past week which changes to 26.05% when measuring it over the past month. Beta is valued at 2.29, while measure of average true range or ATR is currently at 0.14.

In comparing Mullen Automotive Inc. (MULN)’s stock with other industry players reveals that stock’s current price change of 14.94% and that of -99.53% over the past 12 months is in competing position with that of Park City Group Inc. (PCYG) which saw its stock price raised by 0.82% in the last trading and went through an increase of 54.12% in past 12-month trading. Mullen Automotive Inc. has a P/E ratio of 0 against that of Park City Group Inc.’s 34.13. On the other hand, the S&P 500 Index was up 0.84% in the last trading session while the Dow Jones Industrial closed the session higher at 0.96%.

Having a second look at Mullen Automotive Inc. (NASDAQ:MULN) provides that stock’s average daily trading volume for 3 months was 59.41 million, while it jumped to 67.88 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 184.17 million.

The percentage of outstanding shares held by the insiders is 4.90% while it is 5.10% for the institutional holders. The figures also indicate that as of Aug 30, 2023, number of stock’s short shares was 27.14 million which implies a short ratio of 0.35. This shows up a 14.74% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short improved as it was 13.86 million in the previous month. Subtraction of -99.11% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.