How much debt is Mullen in?
Total debt on the balance sheet as of December 2023 : $18.99 M. According to Mullen Automotive's latest financial reports the company's total debt is $18.99 M. A company's total debt is the sum of all current and non-current debts.
Mullen Automotive Balance Sheet Health
Mullen Automotive has a total shareholder equity of $271.8M and total debt of $9.1M, which brings its debt-to-equity ratio to 3.4%. Its total assets and total liabilities are $381.2M and $109.4M respectively.
Cash on Hand as of December 2023 : $81.51 M
According to Mullen Automotive's latest financial reports the company has $81.51 M in cash and cash equivalents. A company's cash on hand also refered as cash/cash equivalents (CCE) and Short-term investments, is the amount of accessible money a business has.
Mullen Technologies was founded in 2014 by David Michery, who is also its chairman and CEO.
NEW ORLEANS, Dec. 1, 2023 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Mullen Automotive, Inc. (NasdaqCM: MULN).
Stock analysis & scores update: Mullen Automotive (MULN) has an AI Score of 4/10 (Hold) because its overall probability of beating the market (S&P 500) in the next 3 months (29.52%) is -2.75% vs. the average probability (32.27%) of US stocks analyzed by our Artificial Intelligence.
| Year | Prediction | Change |
|---|---|---|
| 2025 | $ 26.91 | 539.24% |
| 2026 | $ 172.03 | 3,986.33% |
| 2027 | $ 1,099.72 | 26,021.65% |
| 2028 | $ 7,029.91 | 166,881.14% |
| Name | Equities | % |
|---|---|---|
| Esousa Holdings LLC 6.793 % | 445,140 | 6.793 % |
| Vanguard Global Advisers LLC 1.758 % | 115,214 | 1.758 % |
| David Michery 1.677 % | 109,897 | 1.677 % |
| BlackRock Institutional Trust Co. NA 1.264 % | 82,813 | 1.264 % |
In terms of market position, Tesla has a dominant share of the EV market while Mullen is yet to gain any significant market share. Finally, Tesla has a much higher valuation and is a profitable company, while Mullen is not a profitable company and has a much lower market cap.
Mullen has now delivered a total of 230 ONEs and has invoiced $7.73 million to RMA as part of the deliveries. These deliveries are part of RMA's purchase order for 1,000 ONEs. “2024 has started strong and will be a solid year overall for our commercial EV efforts,” said RMA Fleet Vice President Brad Sigmon.
Why was Mullen stock so high?
Mullen's stock soars in very active trading after a 1-for-100 reverse stock split went into effect.
Mullen Automotive, Inc. (MULN)
Mullen Automotive had 326 employees on September 30, 2023. The number of employees increased by 208 or 176.27% compared to the previous year.
Mullen Automotive Receives Delisting Determination from Nasdaq Staff for Failure to Maintain Minimum $1.00 Bid Requirement.
Top Institutional Holders
Blackrock Inc. Charles Schwab Investment Management, Inc. Citigroup Inc.
On February 13, 2024 - BlackRock Inc. filed a 13F-HR form disclosing ownership of 82,813 shares of Mullen Automotive, Inc. (US:MULN) valued at $1,183,398 USD as of December 31, 2023.
Mullen Automotive Inc quote is equal to 4.205 USD at 2024-03-24. Based on our forecasts, a long-term increase is expected, the "MULN" stock price prognosis for 2029-03-16 is 24.213 USD. With a 5-year investment, the revenue is expected to be around +475.8%. Your current $100 investment may be up to $575.8 in 2029.
As of March 07, 2024, Mullen Automotive Inc had a $41.6 million market capitalization, putting it in the 25th percentile of companies in the Auto & Truck Manufacturers industry. Mullen Automotive Inc does not have a meaningful P/E due to negative earnings over the last 12 trailing months.
The average one-year price target for Mullen Automotive, Inc. is $23.46.
Mullen Automotive holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Over the past year, Mullen Automotive's (NASDAQ:MULN) stock has been a rollercoaster ride, with wild price swings between 10 cents and $5. The incredible volatility has likely minted some hugely profitable trades for lucky speculators. However, for most investors, I suggest avoiding this battleground stock altogether.
What will Mullen stock price be in 2025?
We anticipate that the average price of Mullen Automotive shares will be $0.94 by the year 2025. Our highest Mullen Automotive price target for 2025 is $1.42, assuming the company maintains its present rate of growth. If the market becomes bearish, Mullen Automotive might drop to a low of about $0.73.
According to the latest long-term forecast, Mullen Automotive price will hit $50 by the end of 2024 and then $110 by the end of 2025. Mullen Automotive will rise to $150 within the year of 2026, $200 in 2028, $250 in 2029, $300 in 2032 and $350 in 2035.
BlackRock increased its holdings of MULN stock in Q4. MULN stock has gained nearly 32% so far in 2023. The leading asset management company, BlackRock (NYSE:BLK), continues to show confidence in Mullen Automotive (NASDAQ:MULN). BlackRock's Q4 13F filing shows it increased its exposure to Mullen stock.
Mullen Group offers investors a proven business strategy of entrepreneurship, strong capital management, growth through diversified operations and markets, with solid margins, cash-flow and dividends.
20.06% of Mullen Automotive's shares are currently sold short. Learn More on Mullen Automotive's current short interest.
