The stock of Mullen Automotive Inc. (NASDAQ:MULN) decreased by -$0.05 on Monday to finish at $0.60, down -7.80 percent. The last five days have seen an average of 174,649,969 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$63.7516. The average number of shares traded over the last 20 days was 77,441,570, while the average volume over the last 50 days totaled 58,295,207.
MULN stock dropped -46.64% since last month. On 08/23/23, the company’s shares reached a one-month low of $0.3901. The stock touched a high of $177.75 on 01/06/23, after rallying from a low of $0.39 in 52 weeks. The price of MULN stock has declined by -99.07% or -$63.7516 this year, reaching a new high 4 times. Still, the stock price is down -99.66% 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 13 days ago on Aug 16. On Aug 16, CEO, President Michery David acquired 102,040 shares at $0.98 each. This transaction resulted in the insider spending $100,428. On Mar 06, New Jonathan sold 159,066 shares at a price of US$0.23. After the transaction, the insider now owns 8,611 shares. CEO, President Michery David had earlier sold 14,937,660 shares on Feb 16 for $0.32 a share. The transaction was completed for $4,726,276.
Valuation Metrics
Beta for the stock is 2.31. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 357.81, the price-to-book (PB) ratio of 0.01.
Financial Health
For the three months ended June 29, Mullen Automotive Inc.’s quick ratio was 1.30, while its current ratio was 1.30, indicating its ability to pay off its debt.
Earnings Surprise
According to Mullen Automotive Inc.’s quarterly financial report for the quarter that ended June 29. Net income for the quarter came in at $0.31 million, while revenues rose by 100.0% to $0.0. It was predicted that Mullen Automotive Inc.’s quarterly earnings would be $11.25, but it ended up being -$6.75, beating the consensus by 266.70%. EBITDA was -$50.9 million for the quarter. At the end of Mullen Automotive Inc.’s most recent quarter ended June 29, its liabilities totaled 208.13 million, while its total debt was $13.23 million. Equity owned by shareholders amounts to $184.17 million.
Technical Picture
Here’s a quick look at Mullen Automotive Inc.’s (MULN) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 33.75%, suggesting the stock is Neutral, with a 533.18% historical volatility rate.
The stochastic %K and %D were 38.24% and 39.11% respectively, while the average true range (ATR) was 0.1948. Based on the 14-day stochastic reading of 29.80%, the RSI (14) reading is 31.97%. On the 9-day MACD Oscillator, the stock is at -0.0373, and the 14-day reading is at -0.1485.
Analyst Ratings
Analysts have assigned Mullen Automotive Inc. (MULN) an – rating. MULN is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is MULN’s price target for the next 12 months?
The current consensus forecast for the stock is between $5175.00 and $5175.00, with a median target price of $5175.00. In analyzing these forecasts, the average price target given by analysts for Mullen Automotive Inc. (MULN) is $5175.00.
