As of Friday close, Mullen Automotive Inc.’s (NASDAQ:MULN) stock was down -$0.02, moving down -12.45 percent to $0.12. The average number of shares traded per day over the past five days has been 347,326,094 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0051 fall in that time frame. In the last twenty days, the average volume was 314,903,531, while in the previous 50 days, it was 303,455,500.
Since last month, MULN stock retreated -45.80%. Shares of the company fell to $0.1000 on 07/05/23, the lowest level in the past month. A 52-week high of $23.37 was reached on 01/06/23 after having rallying from a 52-week low of $0.10. Since the beginning of this year, MULN’s stock price has dropped by -98.33% or -$7.0305, and marked a new high 4 times. However, the stock has declined by -99.49% since its 52-week high.
MULN stock investors should be aware that Mullen Automotive Inc. (MULN) stock had its last reported insider trading activity 152 days ago on Mar 06. New Jonathan, the CFO of the company, disposed of 159,066 shares for $0.23 on Mar 06. It resulted in a $36,506 divestment by the insider. Michery David sold 14,937,660 shares at an average price of $0.32 on Feb 16. The insider now owns 113,665,510 shares following the transaction. On Dec 15, Director PUCKETT KENT sold 100,000 shares at $0.33 apiece. The transaction was valued at $33,000.
Financial Health
In the three months ended June 29, Mullen Automotive Inc.’s quick ratio stood at 0.80, while its current ratio was 0.80, showing that the company is not able to pay off its debt.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Mullen Automotive Inc. to report -$0.75 quarterly earnings, the actual figure was $1.25 per share, beating the consensus estimate by 266.70%. During the quarter, the company generated -$64.16 million in EBITDA. The liabilities of Mullen Automotive Inc. were 139.59 million at the end of its most recent quarter ended June 29, and its total debt was $13.99 million. The value of shareholders’ equity is $172.51 million.
Technical Picture
This quick technical analysis looks at Mullen Automotive Inc.’s (MULN) price momentum. With a historical volatility rate of 401.65%, the RSI 9-day stood at 34.99% on 04 August.
With respect to its five-day moving average, the current Mullen Automotive Inc. price is down by -4.09% percent or -$0.0051. At present, MULN shares trade -37.73% below its 20-day simple moving average and -97.09% percent below its 100-day simple moving average. However, the stock is currently trading approximately -86.87% below its SMA50 and -97.94% below its SMA200.
Stochastic coefficient K was 18.73% and Stochastic coefficient D was 20.78%, while ATR was 0.0233. Given the Stochastic reading of 7.76% for the 14-day period, the RSI (14) reading has been calculated as 31.22%.
Analyst Ratings
Mullen Automotive Inc. (MULN) has been rated – by analysts. According to 0 brokerage firms, MULN is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Mullen Automotive Inc. stock as buy, with 0 recommending it as overweight.
With a median target price of $575.00, the current consensus forecast for the stock is $575.00 – $575.00. Based on these forecasts, analysts predict Mullen Automotive Inc. (MULN) will achieve an average price target of $575.00.
