On February 28, 2023 at 10:29:34 (ET) an unusually large $49.50K block of Put contracts in Mullen Automotive (MULN) was sold, with a strike price of $0.50 / share, expiring in 143 days (on July 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.05 sigmas above the mean, placing it in the 84.37 percentile of all recent large trades made in MULN options.

Analyst Price Forecast Suggests 10,716.04% Upside

As of February 28, 2023, the average one-year price target for Mullen Automotive is $23.46. The forecasts range from a low of $23.23 to a high of $24.15. The average price target represents an increase of 10,716.04% from its latest reported closing price of $0.22.

The projected annual EPS is $0.08.

What is the Fund Sentiment?

There are 212 funds or institutions reporting positions in Mullen Automotive. This is an increase of 42 owner(s) or 24.71% in the last quarter. Average portfolio weight of all funds dedicated to MULN is 0.01%, an increase of 206.50%. Total shares owned by institutions increased in the last three months by 32.98% to 112,921K shares. The put/call ratio of MULN is 0.08, indicating a bullish outlook.

What are large shareholders doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 14,474K shares representing 0.83% ownership of the company. In it’s prior filing, the firm reported owning 8,799K shares, representing an increase of 39.21%. The firm decreased its portfolio allocation in MULN by 44.89% over the last quarter.

IWM – iShares Russell 2000 ETF holds 7,668K shares representing 0.44% ownership of the company. In it’s prior filing, the firm reported owning 7,342K shares, representing an increase of 4.25%. The firm decreased its portfolio allocation in MULN by 17.47% over the last quarter.

Geode Capital Management holds 6,522K shares representing 0.37% ownership of the company. In it’s prior filing, the firm reported owning 6,389K shares, representing an increase of 2.04%. The firm decreased its portfolio allocation in MULN by 17.60% over the last quarter.

VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 5,887K shares representing 0.34% ownership of the company. In it’s prior filing, the firm reported owning 3,306K shares, representing an increase of 43.84%. The firm decreased its portfolio allocation in MULN by 41.80% over the last quarter.

Susquehanna International Group, Llp holds 4,744K shares representing 0.27% ownership of the company. In it’s prior filing, the firm reported owning 1,808K shares, representing an increase of 61.88%. The firm increased its portfolio allocation in MULN by 123.82% over the last quarter.

Mullen Automotive Background Information
(This description is provided by the company.)

Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the Company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership.

This article originally appeared on Fintel

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