As of Thursday close, Mullen Automotive Inc.’s (NASDAQ:MULN) stock was down -$0.03, moving down -6.58 percent to $0.53. The average number of shares traded per day over the past five days has been 108,183,180 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.2130 fall in that time frame. In the last twenty days, the average volume was 86,444,461, while in the previous 50 days, it was 62,072,566.
Since last month, MULN stock retreated -51.96%. Shares of the company fell to $0.3901 on 08/23/23, the lowest level in the past month. A 52-week high of $177.75 was reached on 01/06/23 after having rallying from a 52-week low of $0.39. Since the beginning of this year, MULN’s stock price has dropped by -99.18% or -$63.8230, and marked a new high 4 times. However, the stock has declined by -99.70% since its 52-week high.
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MULN stock investors should be aware that Mullen Automotive Inc. (MULN) stock had its last reported insider trading activity 16 days ago on Aug 16. Michery David, the CEO, President of the company, purchased of 102,040 shares for $0.98 on Aug 16. It resulted in a $100,428 investment by the insider. New Jonathan sold 159,066 shares at an average price of $0.23 on Mar 06. The insider now owns 8,611 shares following the transaction. On Feb 16, CEO, President Michery David sold 14,937,660 shares at $0.32 apiece. The transaction was valued at $4,726,276.
Valuation Metrics
The stock’s beta is 2.28. Besides these, the trailing price-to-sales (P/S) ratio of 315.12, the price-to-book (PB) ratio of 0.01.
Financial Health
In the three months ended June 29, Mullen Automotive Inc.’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt.
MULN’s revenue rose 100.0% during the quarter, while net income inched up to $0.31 million. While analysts expected Mullen Automotive Inc. to report -$6.75 quarterly earnings, the actual figure was $11.25 per share, beating the consensus estimate by 266.70%. During the quarter, the company generated -$50.9 million in EBITDA. The liabilities of Mullen Automotive Inc. were 208.13 million at the end of its most recent quarter ended June 29, and its total debt was $13.23 million. The value of shareholders’ equity is $184.17 million.
Technical Picture
This quick technical analysis looks at Mullen Automotive Inc.’s (MULN) price momentum. With a historical volatility rate of 497.62%, the RSI 9-day stood at 30.29% on 31 August.
With respect to its five-day moving average, the current Mullen Automotive Inc. price is down by -28.78% percent or -$0.2130. At present, MULN shares trade -57.10% below its 20-day simple moving average and -97.82% percent below its 100-day simple moving average. However, the stock is currently trading approximately -70.63% below its SMA50 and -99.24% below its SMA200.
Stochastic coefficient K was 25.02% and Stochastic coefficient D was 28.38%, while ATR was 0.1658. Given the Stochastic reading of 20.14% for the 14-day period, the RSI (14) reading has been calculated as 30.22%. As of today, the MACD Oscillator reading stands at -0.0569, while the 14-day reading stands at -0.1540.
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 $5175.00, the current consensus forecast for the stock is $5175.00 – $5175.00. Based on these forecasts, analysts predict Mullen Automotive Inc. (MULN) will achieve an average price target of $5175.00.
