Mullen Group Ltd’s Big Gap Up Today Points to Less Stock Risks

 Mullen Group Ltd's Big Gap Up Today Points to Less Stock Risks

The stock of Mullen Group Ltd (TSE:MTL) gapped up by $0.03 today and has $19.28 target or 7.00% above today’s $18.02 share price. The 8 months technical chart setup indicates low risk for the $1.84B company. The gap was reported on Nov, 30 by If the $19.28 price target is reached, the company will be worth $128.80 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 157,970 shares traded hands. Mullen Group Ltd (TSE:MTL) has risen 27.62% since April 26, 2016 and is uptrending. It has outperformed by 22.39% the S&P500.

Mullen Group Ltd (TSE:MTL) Ratings Coverage

Out of 8 analysts covering Mullen Group (TSE:MTL), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $22.5 is the highest target while $14 is the lowest. The $18.55 average target is 2.94% above today’s ($18.02) stock price. Mullen Group has been the topic of 31 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by GMP Securities given on Friday, October 21. The stock has “Sector Performer” rating given by IBC on Thursday, January 14. Canaccord Genuity initiated the shares of MTL in a report on Wednesday, October 26 with “Hold” rating. On Wednesday, October 14 the stock rating was maintained by Cormark Securities with “Buy”. The firm earned “Market Perform” rating on Friday, July 24 by Raymond James. Raymond James downgraded Mullen Group Ltd (TSE:MTL) on Friday, October 7 to “Market Perform” rating. The stock of Mullen Group Ltd (TSE:MTL) earned “Sector Perform” rating by RBC Capital Markets on Thursday, October 22. RBC Capital Markets maintained Mullen Group Ltd (TSE:MTL) rating on Thursday, November 26. RBC Capital Markets has “Sector Perform” rating and $19 price target. The stock of Mullen Group Ltd (TSE:MTL) has “Sector Outperform” rating given on Thursday, October 22 by Scotia Capital. The stock of Mullen Group Ltd (TSE:MTL) has “Outperform” rating given on Friday, July 22 by RBC Capital Markets.

More recent Mullen Group Ltd (TSE:MTL) news were published by: which released: “Mullen Group Ltd. Reports Third Quarter Financial Results and Operating Update” on October 19, 2016. Also published the news titled: “Mullen Group Ltd. Announces $100 Million Bought Deal Offering and Concurrent …” on April 26, 2016.‘s news article titled: “Mullen Group Ltd. Reports First Quarter Financial Results and Business Update” with publication date: April 20, 2016 was also an interesting one.

Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The company has a market cap of $1.84 billion. The Firm provides a range of specialized transportation and related services to the oil and natural gas industry in western Canada. It has a 31.83 P/E ratio. The Firm operates in two divisions: Trucking/Logistics and Oilfield Services.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment