Mullen Automotive Inc. [MULN] Is Currently 14.20 above its 200 Period Moving Avg: What Does This Mean?


Mullen Automotive Inc. [NASDAQ: MULN] gained 14.20% or 0.12 points to close at $0.99 with a heavy trading volume of 113061524 shares. The company report on May 13, 2022 that Mullen Reports Preliminary Summary of Financial Results for Second Quarter.

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Mullen more than doubles reservations on the Mullen FIVE in reported quarter.

Q/Q cash and cash equivalents rose to +$65.2M, driven primarily by the issuance of Mullen’s Series C Preferred Stock at $8.84/share .

It opened the trading session at $1.02, the shares rose to $1.08 and dropped to $0.923, the range by which the price of stock traded the whole day. The daily chart for MULN points out that the company has recorded -92.17% loss over the past six months. However, it is still -90.38% lower than its most recent low trading price.

If we look at the average trading volume of 145.09M shares, MULN reached to a volume of 113061524 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Trading performance analysis for MULN stock

Mullen Automotive Inc. [MULN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.57. With this latest performance, MULN shares dropped by -58.78% in over the last four-week period, additionally sinking by -92.17% over the last 6 months – not to mention a drop of -90.87% 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 34.36, with the RSI for the last a single of trading hit 32.92, and the three-weeks RSI is set at 37.08 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 1.8845, while it was recorded at 0.9375 for the last single week of trading, and 5.8617 for the last 200 days.

Mullen Automotive Inc. [MULN]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Mullen Automotive Inc. [MULN]

There are presently around $4 million, or 0.70% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: VANGUARD GROUP INC with ownership of 1,082,717, which is approximately 475.91% of the company’s market cap and around 3.30% of the total institutional ownership; BLACKROCK INC., holding 682,525 shares of the stock with an approximate value of $0.68 million in MULN stocks shares; and EXODUSPOINT CAPITAL MANAGEMENT, LP, currently with $0.42 million in MULN stock with ownership of nearly New 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 42 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 3,207,203 shares. Additionally, 12 investors decreased positions by around 344,838 shares, while 6 investors held positions by with 526,265 shares. The mentioned changes placed institutional holdings at 4,078,306 shares, according to the latest SEC report filing. MULN stock had 29 new institutional investments in for a total of 1,492,848 shares, while 7 institutional investors sold positions of 197,323 shares during the same period.