Mullen Automotive Inc. [MULN] fell -71.70% so far this year. What now?

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Mullen Automotive Inc. [NASDAQ: MULN] surged by $0.08 during the normal trading session on Friday and reaching a high of $1.55 during the day while it closed the day at $1.48. The company report on April 21, 2022 that Mullen to Conduct Solid-State Polymer Battery Cell Testing with Leading Independent Facility, Battery Innovation Center (BIC), in Indiana.

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Testing to support a solid-state polymer battery cell, which when scaled to the vehicle pack level, and at a 150-kilowatt hour equivalent, can deliver over 600 miles of range on a full charge for the Mullen FIVE EV Crossover. Mullen to announce test results in early May 2022.

Battery Innovation Center to conduct testing on Mullen Automotive’s Solid-State Polymer EV Battery Cell.

Mullen Automotive Inc. stock has also loss -31.48% of its value over the past 7 days. However, MULN stock has declined by -56.47% in the 3 months of the year. Over the past six months meanwhile, it has lost -80.16% and lost -71.70% year-on date.

The market cap for MULN stock reached $401.49 million, with 17.47 million shares outstanding. Compared to the average trading volume of 132.57M shares, MULN reached a trading volume of 63383547 in the most recent trading day, which is why market watchdogs consider the stock to be active.

MULN stock trade performance evaluation

Mullen Automotive Inc. [MULN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.48. With this latest performance, MULN shares dropped by -52.41% in over the last four-week period, additionally sinking by -80.16% over the last 6 months – not to mention a drop of -86.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MULN stock in for the last two-week period is set at 36.42, with the RSI for the last a single of trading hit 28.83, and the three-weeks RSI is set at 39.98 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 1.8197, while it was recorded at 1.5640 for the last single week of trading, and 6.6448 for the last 200 days.

Mullen Automotive Inc. [MULN]: An insightful look at the core fundamentals

Mullen Automotive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Mullen Automotive Inc. [MULN]: Insider Ownership positions

There are presently around $2 million, or 0.50% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: CETERA ADVISOR NETWORKS LLC with ownership of 219,700, which is approximately New of the company’s market cap and around 3.60% of the total institutional ownership; BLACKROCK INC., holding 195,101 shares of the stock with an approximate value of $0.29 million in MULN stocks shares; and VANGUARD GROUP INC, currently with $0.28 million in MULN stock with ownership of nearly -2.899% of the company’s market capitalization.

Positions in Mullen Automotive Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 25 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 668,222 shares. Additionally, 11 investors decreased positions by around 242,291 shares, while 4 investors held positions by with 333,098 shares. The mentioned changes placed institutional holdings at 1,243,611 shares, according to the latest SEC report filing. MULN stock had 18 new institutional investments in for a total of 610,646 shares, while 5 institutional investors sold positions of 86,234 shares during the same period.