Mullen Group Ltd. (OTCMKTS:MLLGF) Short Interest Up 76.1% in April

Mullen Group Ltd. (OTCMKTS:MLLGF) was the recipient of a large 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 trading volume of 33,744 shares, the days-to-cover ratio is currently 15.7 days.

Wall Street Analysts Forecast Growth

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

Mullen Group Stock Performance

Shares of OTCMKTS:MLLGF traded up $0.07 during mid-day trading on Tuesday, reaching $15.62. The stock had a trading volume of 400 shares, compared to its average volume of 17,565. The firm has a 50 day simple moving average of $13.34 and a two-hundred day simple moving average of $12.12. Mullen Group has a twelve month low of $8.50 and a twelve month high of $15.84.

Mullen Group Company Profile

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.