Market cap of Mullen Automotive Inc. [MULN] reaches 373.10M – now what?

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Mullen Automotive Inc. [NASDAQ: MULN] closed the trading session at $1.20 on 05/06/22. The day’s price range saw the stock hit a low of $1.17, while the highest price level was $1.2895. The company report on May 5, 2022 that Mullen Adds High-Performance Mullen FIVE RS to Its ‘Strikingly Different’ U.S. Test Drive Tour; New 2023 Stops Announced.

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The Mullen FIVE RS, a generational marquee high-performance EV sport crossover featuring almost 1,100 horsepower, 1.95 seconds 0-60 mph and close to 200 mph top speed, will join the second leg of the ‘Strikingly Different’ U.S. Test Drive Tour. Starting in October 2022, the tour is now extended with new dates through May 2023.

The stocks have a year to date performance of -77.06 percent and weekly performance of -9.09 percent. The stock has been moved at -90.83 percent over the last six months. The stock has performed -54.72 percent around the most recent 30 days and changed -53.31 percent over the most recent 3-months.

If compared to the average trading volume of 140.72M shares, MULN reached to a volume of 50769949 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 -9.09. With this latest performance, MULN shares dropped by -54.72% in over the last four-week period, additionally sinking by -90.83% over the last 6 months – not to mention a drop of -87.74% 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 33.45, with the RSI for the last a single of trading hit 26.60, and the three-weeks RSI is set at 37.57 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 1.8963, while it was recorded at 1.2840 for the last single week of trading, and 6.1302 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 0.60% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: SIMPLEX TRADING, LLC with ownership of 242,138, which is approximately 3302.248% of the company’s market cap and around 3.30% of the total institutional ownership; CETERA ADVISOR NETWORKS LLC, holding 219,700 shares of the stock with an approximate value of $0.26 million in MULN stocks shares; and BLACKROCK INC., currently with $0.23 million in MULN stock with ownership of nearly 28.684% 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 29 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 1,145,406 shares. Additionally, 11 investors decreased positions by around 266,144 shares, while 7 investors held positions by with 289,709 shares. The mentioned changes placed institutional holdings at 1,701,259 shares, according to the latest SEC report filing. MULN stock had 21 new institutional investments in for a total of 852,826 shares, while 5 institutional investors sold positions of 113,017 shares during the same period.