Mullen Group Ltd. (OTCMKTS:MLLGF) Sees Large Increase in Short Interest

Mullen Group Ltd. (OTCMKTS:MLLGF) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 1,230,433 shares, an increase of 70.1% from the September 15th total of 723,322 shares. Based on an average trading volume of 107,803 shares, the short-interest ratio is currently 11.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MLLGF. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Mullen Group in a research note on Wednesday, September 30th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Mullen Group in a research note on Monday, October 5th. Scotiabank restated a “sector perform” rating on shares of Mullen Group in a report on Thursday. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Mullen Group in a research report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Mullen Group Price Performance

Mullen Group stock traded down $0.85 during mid-day trading on Thursday, reaching $18.81. 100 shares of the company’s stock were exchanged, compared to its average volume of 31,068. Mullen Group has a twelve month low of $9.47 and a twelve month high of $20.35. The company has a fifty day moving average of $18.72 and a 200-day moving average of $16.72.

Mullen Group Company Profile

Mullen Group Ltd. is a Canadian logistics and transportation company headquartered in Okotoks, Alberta. Through a network of operating companies, it provides freight transportation, specialized hauling, logistics, warehousing and related supply-chain services to customers across Canada and the United States.

The company’s transportation activities include less-than-truckload, truckload and specialized freight services, including the movement of industrial, energy, construction and other oversized or specialized cargo.