Mullen Automotive Inc. (NASDAQ:MULN) saw a downside of -3.44% to close Monday at $0.62 after subtracting -$0.02 on the day. The 5-day average trading volume is 60,784,379 shares of the company’s common stock. It has gained $1.0200 in the past week and touched a new high 1 time within the past 5 days. An average of 39,485,352 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 42,628,539.
MULN’s 1-month performance is -50.71% or -$0.6389 on its low of $0.6121 reached on 08/21/23. The company’s shares have touched a 52-week low of $0.63 and high of $181.49, with the stock’s rally to the 52-week high happening on 01/06/23. YTD, MULN has lost -99.03% or -$63.7289 and has reached a new high 4 times. However, the current price is down -99.66% from the 52-week high price.
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Insider Transactions
MULN stock investors last saw insider trading activity on Aug 16.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 2.32. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 371.39 while the price-to-book (PB) in the most recent quarter is 0.01.
Mullen Automotive Inc.’s quick ratio for the period ended June 29 was 1.30, with the current ratio over the same period at 1.30.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income grew 80.75% to -$308.87 million, while revenue of -$106.87 million was 65.4% off the previous quarter. Analysts expected MULN to announce -$6.75 per share in earnings in its latest quarter, but it posted $11.25, representing a 266.70% surprise. EBITDA for the quarter stood at more than -$50.9 million. MULN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 208.13 million, with total debt at $13.23 million. Shareholders hold equity totaling $184.17 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 21 August was 16.23% to suggest the stock is trending oversold, with historical volatility in this time period at 408.59%.
The stock’s 5-day moving average is $0.8109, reflecting a -39.11% or -$0.3989 change from its current price. MULN is currently trading -48.88% above its 20-day SMA, -97.05% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -85.25% and SMA200 by-99.30%.
Stochastic %K and %D was 1.28% and 6.81% and the average true range (ATR) pointed at 0.1466. The RSI (14) points at 23.12%, while the 14-day stochastic is at 0.95% with the period’s ATR at 0.2036. The stock’s 9-day MACD Oscillator is pointing at -0.2141 and -0.2814 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 $5175.00 and a high of $5175.00, with their median price target at $5175.00. Looking at these predictions, the average price target given by analysts is for Mullen Automotive Inc. (MULN) stock is $5175.00.
