Short Interest in Mullen Group Ltd. (OTCMKTS:MLLGF) Grows By 76.1%

Mullen Group Ltd. (OTCMKTS:MLLGF) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 529,013 shares, an increase of 76.1% from the April 15th total of 300,452 shares. Based on an average daily trading volume, of 33,744 shares, the days-to-cover ratio is presently 15.7 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Scotiabank reaffirmed a “sector perform” rating on shares of Mullen Group in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Mullen Group in a research note on Friday, April 24th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Mullen Group in a research note on Friday, April 24th. TD Securities reaffirmed a “buy” rating on shares of Mullen Group in a research note on Friday, April 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Mullen Group in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Mullen Group Trading Down 1.0%

Mullen Group stock traded down $0.15 during midday trading on Monday, reaching $15.55. The stock had a trading volume of 400 shares, compared to its average volume of 17,565. The firm’s fifty day simple moving average is $13.28 and its two-hundred day simple moving average is $12.09. Mullen Group has a twelve month low of $8.50 and a twelve month high of $15.84.

About Mullen Group

Mullen Group Ltd. is a diversified transportation and logistics company headquartered in Okotoks, Alberta. Founded in 1949 as a regional trucking firm, the company has grown through a combination of organic expansion and targeted acquisitions to become one of Canada’s leading asset-based carriers. Mullen Group provides full-service solutions across a range of industries, with a focus on temperature-controlled freight, bulk and specialized haulage, and dedicated contract carriage.

The company operates through several complementary business segments, including truckload and less-than-truckload (LTL) services, logistics and warehousing, courier and parcel delivery, and international freight forwarding.