Mullen Automotive Inc. (NASDAQ:MULN) finished Thursday with a subtraction of -$0.04 to close at $0.37, a downside of -9.58 percent. An average of 92,286,219 shares of common stock have been traded in the last five days. There was a fall of -$0.1763 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 107,370,828 shares traded, while the 50-day average volume stands at 77,176,602.
MULN stock has decreased by -45.90% in the last month. The company shares reached their 1-month lowest point of $0.3585 on 09/22/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $0.40 and a high of $15.90 in 52 weeks. It has reached a new high 1 time so far this year and lost -92.98% or -$4.8629 in price. In spite of this, the price is down -97.69% from the 52-week high.
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15 days have passed since Mullen Automotive Inc. (MULN) last reported insider trading activity. POPA CALIN, who is Pres. Mullen Automotive, most recently acquired $50,000 shares at $0.67 per share on Sep 08. In this transaction, the insider spent $33,500. CEO, President, Michery David, disposed of 350,000 shares at a price of $1.12 on Jun 29. The insider now owns more than $391,965 worth of shares. Prior to that, CEO, President Michery David went on to Sale 150,000 shares at $1.10 each on Jun 15. An amount of $165,255 was transacted.
Mullen Automotive Inc. (MULN) stock’s beta is 2.45. Other valuation ratios to consider include the price-to-book (PB) ratio at 7.34.
The quick ratio of Mullen Automotive Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.28 and a total debt to equity ratio of 0.46 for the quarter ending June 29.
For the three-month period that ended June 29, Mullen Automotive Inc. had $5.26 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$59.47 million in the quarter, while revenues of -$32.57 million were grew 102.12%. The analyst consensus anticipated Mullen Automotive Inc.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be $0.05, a 266.70% surprise. For the quarter, EBITDA amounted to -$17.73 million. Shareholders own equity worth $509.3 million.
From a technical analysis perspective, let’s take a brief look at Mullen Automotive Inc. (MULN) price momentum. RSI 9-day as of the close on 22 September was 14.88%, suggesting the stock is oversold, with historical volatility in this time frame at 77.55%.
As of today, MULN’s price is $0.4349 -32.44% or -$0.1763 from its 5-day moving average. MULN is currently trading -47.41% lower than its 20-day SMA and -72.19% lower than its 100-day SMA. However, the stock’s current price level is -66.32% below the SMA50 and -94.55% below the SMA200.
The stochastic %K and %D were 1.80% and 2.50%, respectively, and the average true range (ATR) was 0.0592. With the 14-day stochastic at 1.99% and the average true range at 0.0656, the RSI (14) stands at 21.21%. The stock has reached -0.0811 on the 9-day MACD Oscillator while the 14-day reading was at -0.1320.
What is MULN’s price target for the next 12 months?
Analysts predict a range of price targets between $23.00 and $23.00, with a median target of $23.00. Taking a look at these predictions, the average price target given by analysts for Mullen Automotive Inc. (MULN) stock is $23.00.