Is Mullen Automotive Inc. (MULN) A Solid Choice On The Value Front?

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BEPC Stock
BEPC Stock

The stock of Mullen Automotive Inc. (NASDAQ:MULN) decreased by -$0.02 on Friday to finish at $0.28, down -6.91 percent. The last five days have seen an average of 219,882,281 shares of common stock traded. 1 time new highs were reached in the current year, with a fall of -$4.9496. The average number of shares traded over the last 20 days was 228,981,109, while the average volume over the last 50 days totaled 149,521,969.

MULN stock dropped -14.59% since last month. On 10/18/22, the company’s shares reached a one-month low of $0.2101. The stock touched a high of $15.90 on 01/03/22, after rallying from a low of $0.21 in 52 weeks. The price of MULN stock has declined by -94.64% or -$4.9496 this year, reaching a new high 1 time. Still, the stock price is down -98.24% from the 52-week high.


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Insider Transactions

MULN stock investors should be aware that Mullen Automotive Inc. (MULN) stock had its last reported insider trading activity 46 days ago on Sep 22. On Sep 22, CEO, President Michery David sold 750,000 shares at $0.40 each. This transaction resulted in the insider making $297,375. On Sep 08, POPA CALIN sold 50,000 shares at a price of US$0.67. After the transaction, the insider now owns 9,729 shares. Director NOVOA IGNACIO had earlier bought 2,500 shares on Aug 26 for $0.67 a share. The transaction was completed for $1,675.

Financial Health

For the three months ended June 29, Mullen Automotive Inc.’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.28, and the total debt to equity ratio is 0.46.

Earnings Surprise

According to Mullen Automotive Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Mullen Automotive Inc.’s quarterly earnings would be $0.05, but it ended up being -$0.03, beating the consensus by 266.70%. EBITDA was -$17.73 million for the quarter. At the end of Mullen Automotive Inc.’s most recent quarter ended June 29, its liabilities totaled 65.11 million, while its total debt was $10.92 million. Equity owned by shareholders amounts to $509.3 million.

Technical Picture

Here’s a quick look at Mullen Automotive Inc.’s (MULN) price momentum from a technical perspective. As of 04 November, the RSI 9-day stood at 32.28%, suggesting the stock is Neutral, with a 330.28% historical volatility rate.

The stochastic %K and %D were 25.85% and 37.20% respectively, while the average true range (ATR) was 0.0699. Based on the 14-day stochastic reading of 17.58%, the RSI (14) reading is 36.99%. On the 9-day MACD Oscillator, the stock is at -0.1218, and the 14-day reading is at -0.0937.

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