Mullen Automotive Inc. (NASDAQ:MULN) saw a downside of -0.88% to close Tuesday at $0.11 after subtracting $0.0 on the day. The 5-day average trading volume is 374,167,875 shares of the company’s common stock. It has gained $0.1730 in the past week and touched a new high 2 times within the past 5 days. An average of 292,849,125 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 310,582,875.
MULN’s 1-month performance is -42.11% or -$0.0793 on its low of $0.1100 reached on 08/08/23. The company’s shares have touched a 52-week low of $0.10 and high of $23.25, with the stock’s rally to the 52-week high happening on 01/06/23. YTD, MULN has lost -98.43% or -$7.0374 and has reached a new high 4 times. However, the current price is down -99.52% from the 52-week high price.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
MULN stock investors last saw insider trading activity on Mar 06.New Jonathan (CFO) most recently sold 159,066 shares at $0.23 per share on Mar 06. This transaction cost the insider $36,506. CEO, President, Michery David, sold 14,937,660 shares at a price of $0.32 on Feb 16. Then, on Dec 15, Director PUCKETT KENT sold 100,000 shares at a price of $0.33 per share. This transaction amounted to $33,000.
Valuation Metrics
MULN stock has a beta of 2.23. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 0.05.
Mullen Automotive Inc.’s quick ratio for the period ended June 29 was 0.80, with the current ratio over the same period at 0.80.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 69.52% to -$106.87 million, while revenue of -$376.91 million was -252.68% off the previous quarter. Analysts expected MULN to announce -$0.75 per share in earnings in its latest quarter, but it posted $1.25, representing a 266.70% surprise. EBITDA for the quarter stood at more than -$64.16 million. MULN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 139.59 million, with total debt at $13.99 million. Shareholders hold equity totaling $172.51 million.
Let’s look briefly at Mullen Automotive Inc. (MULN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 32.29% to suggest the stock is trending Neutral, with historical volatility in this time period at 362.75%.
The stock’s 5-day moving average is $0.1208, reflecting a -12.85% or -$0.0166 change from its current price. MULN is currently trading -38.13% above its 20-day SMA, -96.98% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -88.19% and SMA200 by-98.68%.
Stochastic %K and %D was 5.77% and 13.75% and the average true range (ATR) pointed at 0.0208. The RSI (14) points at 30.24%, while the 14-day stochastic is at 4.13% with the period’s ATR at 0.0308. The stock’s 9-day MACD Oscillator is pointing at -0.0084 and -0.0132 on the 14-day charts.
Analyst Ratings
What is MULN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $575.00 and a high of $575.00, with their median price target at $575.00. Looking at these predictions, the average price target given by analysts is for Mullen Automotive Inc. (MULN) stock is $575.00.
