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

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

Mullen Group Stock Performance

MLLGF 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 12-month low of $9.47 and a 12-month high of $20.35. The stock’s 50 day moving average is $18.72 and its 200 day moving average is $16.72.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Mullen Group in a report on Monday, October 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Mullen Group in a research report on Friday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Mullen Group in a research note on Wednesday, September 30th. Finally, Scotiabank reissued a “sector perform” rating on shares of Mullen Group in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

About Mullen Group

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.