As of Thursday close, Mullen Automotive Inc.’s (NASDAQ:MULN) stock was down -$0.14, moving down -8.75 percent to $1.46. The average number of shares traded per day over the past five days has been 76,853,000 shares. 4 times new highs have been achieved over the past 5 days, with a $0.3000 gain in that time frame. In the last twenty days, the average volume was 82,014,578, while in the previous 50 days, it was 68,863,477.
Since last month, MULN stock rose 39.05%. Shares of the company fell to $0.9500 on 05/27/22, the lowest level in the past month. A 52-week high of $15.90 was reached on 01/03/22 after having rallying from a 52-week low of $0.52. Since the beginning of this year, MULN’s stock price has dropped by -72.08% or -$3.7700, and marked a new high 1 time. However, the stock has declined by -90.82% since its 52-week high.
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Mullen Automotive Inc. (MULN) last reported insider trading activity 9 days ago on Jun 15. Michery David, the CEO, President of the company, disposed of 150,000 shares for $1.10 on Jun 15. It resulted in a $165,255 divestment by the insider. Michery David sold 750,000 shares at an average price of $1.01 on May 23. The insider now owns 7,911,066 shares following the transaction. On Mar 31, Director New Jonathan sold 10,000 shares at $2.99 apiece. The transaction was valued at $29,902.
In the three months ended June 29, Mullen Automotive Inc.’s quick ratio stood at 1.90, while its current ratio was 1.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.11, and the total debt-to-equity ratio was 0.45.
In Mullen Automotive Inc.’s quarter-end financial report for June 29, it reported total debt of $5.23 million. While analysts expected Mullen Automotive Inc. to report -$0.03 quarterly earnings, the actual figure was $0.05 per share, beating the consensus estimate by 266.70%. During the quarter, the company generated -$10.44 million in EBITDA. The liabilities of Mullen Automotive Inc. were 55.65 million at the end of its most recent quarter ended June 29, and its total debt was $24.26 million. The value of shareholders’ equity is $332.44 million.
This quick technical analysis looks at Mullen Automotive Inc.’s (MULN) price momentum. With a historical volatility rate of 240.76%, the RSI 9-day stood at 60.38% on 23 June.
With respect to its five-day moving average, the current Mullen Automotive Inc. price is up by +25.86% percent or $0.3000. At present, MULN shares trade +46.00% above its 20-day simple moving average and -48.59% percent below its 100-day simple moving average. However, the stock is currently trading approximately -45.11% below its SMA50 and -85.03% below its SMA200.
Stochastic coefficient K was 75.26% and Stochastic coefficient D was 67.15%, while ATR was 0.1809. Given the Stochastic reading of 64.79% for the 14-day period, the RSI (14) reading has been calculated as 56.58%. As of today, the MACD Oscillator reading stands at 0.2411, while the 14-day reading stands at 0.2381.
With a median target price of $23.00, the current consensus forecast for the stock is $23.00 – $23.00. Based on these forecasts, analysts predict Mullen Automotive Inc. (MULN) will achieve an average price target of $23.00.