STA Research Initiates coverage on Mullen Automotive Inc. with a Speculative Buy rating

Mullen Automotive Inc Stock Forecast:

According to Stock Target Advisor, the fundamental analysis of Mullen Automotive Inc’s stock is slightly bearish. This assessment is based on a combination of positive and negative signals. Specifically, the analysis identified 2 positive signals and 3 negative signals. However it is very common that company’s in this stage to have poorer fundamentals.

It’s important to note that the stock price of Mullen Automotive Inc at the last closing was USD 0.36. Additionally, the stock price has experienced some fluctuations over the past week, month, and year. Specifically, over the past week, the stock price decreased by -2.32%, over the past month, it increased by +18.30%, and over the last year, it decreased by -91.13%.

The Stock is considered as a Speculative Play, with the potential for significant upside gain.

Analysts Coverage:

STA Research initiated coverage on Mullen Automotive Inc. with a Speculative Buy rating and a target price of $0.65 on the company’s stock.

Mullen Automotive Inc. News:

December 2022 was a memorable month for Mullen Automotive, as the company saw the arrival of its first I-GO Commercial Urban Delivery EVs in Europe and the conclusion of the first leg of its Strikingly Different tour, which was met with positive feedback and sold-out shows. CEO David Michery noted the success of the Mullen Five EV model, which is set to enter production in the fourth quarter of 2023.

The company is now focusing on expanding its tour to the East Coast, Northwest, and Midwest, starting in the spring of 2023. While the month wasn’t without its setbacks, Mullen Automotive faced some delays in filing its annual financial report, Form 10-K. Despite this minor setback, the company is moving forward with its plans to bring the Mullen Five EV model to market in the near future.

About Mullen Automotive Inc.:

Mullen Automotive, Inc., an electric vehicle company, manufactures and distributes electric vehicles. It also operates CarHub, a digital platform that leverages AI to offer an interactive solution for buying, selling, and owning a car; and provides battery technology and emergency point-of-care solutions. The company was founded in 2014 and is based in Brea, California.

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