Mullen Automotive Inc. (NASDAQ:MULN) finished Thursday with a subtraction of -$0.06 to close at $0.74, a downside of -7.50 percent. An average of 151,294,938 shares of common stock have been traded in the last five days. There was a fall of -$0.0500 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 68,181,781 shares traded, while the 50-day average volume stands at 54,940,230.
MULN stock has decreased by -37.19% in the last month. The company shares reached their 1-month lowest point of $0.3901 on 08/23/23. With the stock rallying to its 52-week high on 01/06/23, shares of the company touched a low of $0.39 and a high of $177.75 in 52 weeks. It has reached a new high 4 times so far this year and lost -98.85% or -$63.6100 in price. In spite of this, the price is down -99.58% 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 172 days ago on Aug 16. In this transaction, the insider spent $36,506. CEO, President, Michery David, disposed of 14,937,660 shares at a price of $0.32 on Feb 16. The insider now owns more than $4,726,276 worth of shares. Prior to that, Director PUCKETT KENT went on to Sale 100,000 shares at $0.33 each on Dec 15. An amount of $33,000 was transacted.
Valuation Metrics
Mullen Automotive Inc. (MULN) has a trailing price-to-earnings (P/E) ratio of 0.00. The stock’s beta is 2.27. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 442.48, the price-to-book (PB) ratio at 0.01.
Financial Health
The quick ratio of Mullen Automotive Inc. for the three months ended June 30 was 1.30, and the current ratio was 1.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.03 for the quarter ending June 30.
Earnings Surprise
The company posted a net income of -$308.87 million in the quarter, while revenues were grew 80.75%. The analyst consensus anticipated Mullen Automotive Inc.’s latest quarter earnings to come in at -$6.75 per share, but it turned out to be $11.25, a 266.70% surprise. For the quarter, EBITDA amounted to -$50.9 million. Shareholders own equity worth $184.17 million.
Technical Picture
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 24 August was 40.03%, suggesting the stock is Neutral, with historical volatility in this time frame at 565.96%.
As of today, MULN’s price is $0.6561 -6.33% or -$0.0500 from its 5-day moving average. MULN is currently trading -34.01% lower than its 20-day SMA and -97.50% lower than its 100-day SMA. However, the stock’s current price level is -74.43% below the SMA50 and -98.83% below the SMA200.
The stochastic %K and %D were 33.61% and 17.43%, respectively, and the average true range (ATR) was 0.2101. With the 14-day stochastic at 48.81% and the average true range at 0.2340, the RSI (14) stands at 35.17%. The stock has reached -0.1158 on the 9-day MACD Oscillator while the 14-day reading was at -0.1952.
What is MULN’s price target for the next 12 months?
Analysts predict a range of price targets between $5175.00 and $5175.00, with a median target of $5175.00. Taking a look at these predictions, the average price target given by analysts for Mullen Automotive Inc. (MULN) stock is $5175.00.
