Mullen Group Ltd (OTCMKTS:MLLGF) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 150,100 shares, a drop of 18.6% from the September 15th total of 184,300 shares. Based on an average daily trading volume, of 1,400 shares, the days-to-cover ratio is presently 107.2 days.

A number of equities research analysts have weighed in on the company. BMO Capital Markets boosted their target price on Mullen Group from $8.50 to $11.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. CIBC boosted their target price on Mullen Group from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Monday, July 27th. Royal Bank of Canada raised Mullen Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $8.00 to $10.00 in a report on Friday, July 24th. Raymond James boosted their target price on Mullen Group from $9.75 to $11.25 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Finally, Scotiabank boosted their target price on Mullen Group from $9.50 to $10.50 and gave the stock an “outperform” rating in a report on Friday, July 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $10.46.

Shares of OTCMKTS:MLLGF remained flat at $$7.09 during trading on Friday. The stock had a trading volume of 50 shares, compared to its average volume of 1,060. Mullen Group has a fifty-two week low of $3.00 and a fifty-two week high of $7.61. The firm has a 50 day simple moving average of $7.21 and a 200-day simple moving average of $5.51.

About Mullen Group

Mullen Group Ltd. provides transportation and oilfield services in Canada and the United States. It operates in two segments, Trucking/Logistics and Oilfield Services. The Trucking/Logistics segment transports general freight; cables, and pipe and steel products; and dry bulk commodities comprising cement and frac sand, as well as over-dimensional loads, such as heavy equipment, compressors and over-sized goods.

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