Analyst Rating Coverage
Morningstar(Rank#123) has just released a research report on the evening of April 20th, in which the research company reiterated its 12-month target on Mullen Automotive with a forecast of $0.40 per share. The firm has also given the stock a “Hold” rating, as they do believe the stock is undervalued at its current price, but that it poses considerable risk, which reflects the “Hold” label.
Mullen Automotive (MULN:NSD) is a Californian-based electric vehicle (EV) manufacturer that specializes in producing affordable and reliable EVs. The company has made significant strides in the EV market, with a focus on providing sustainable transportation options for consumers.
Morningstar’s decision to reiterate its target on Mullen Automotive comes as the company has continued to make progress in its business operations. Mullen Automotive has recently announced plans to expand its manufacturing capabilities, with the construction of a new factory in Arizona that is expected to be completed in the coming years.
While Mullen Automotive has shown promise in the EV market, Morningstar has highlighted several risks associated with the company’s operations. One key concern is the company’s limited production capabilities, which could hinder its ability to meet growing demand for EVs in the future. The company is also facing increased competition from established automakers, who are also investing heavily in the EV market. This competition could limit Mullen Automotive’s growth potential and impact its ability to gain market share. It is very likley at this point that most new EV start ups will not succeed, so the future risk ratio is very high.
Despite these risks, Morningstar remains optimistic at the moment about Mullen Automotive’s prospects. The firm believes that the company’s focus on producing affordable and reliable EVs, along with its expansion plans, will help to drive growth in the coming quarters.
MULN Stock Forecast & Analysis
According to the Mullen Automotive Inc stock forecast from two analysts, the average analyst target price for the company is USD 0.48 over the next 12 months. This suggests that there is potential for significant growth in the company’s stock price over the coming year.
The average analyst rating for Mullen Automotive Inc is a “Strong Buy”, which indicates that the majority of analysts who cover the company have a positive outlook on its future prospects.
Stock Target Advisor’s own stock analysis of Mullen Automotive Inc is Bearish. This is based on 2 positive signals and 6 negative signals. The negative signals may include factors such as weak financial performance, limited production capabilities, and increased competition from established automakers.
At the last closing, Mullen Automotive Inc’s stock price was USD 0.08. This represents a significant decline from its previous highs, with the stock price changing by -18.56% over the past week, -35.83% over the past month and -93.99% over the last year.
