Mullen Automotive Inc. [MULN] is -85.59% lower this YTD. Is it still time to buy?

Mullen Automotive Inc. [NASDAQ: MULN] loss -6.50% on the last trading session, reaching $0.75 price per share at the time. The company report on August 9, 2022 that Mullen Automotive Announces Preliminary Third Quarter Results.

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Company has strongest balance sheet ever with approximately $99 million cash on hand and in cash equivalents as of Aug. 8, 2022.

Mullen Automotive Inc. represents 376.79 million in outstanding shares, while the company has a total market value of $410.49 million with the latest information. MULN stock price has been found in the range of $0.7509 to $0.8061.

If compared to the average trading volume of 63.75M shares, MULN reached a trading volume of 69197705 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Mullen Automotive Inc. [MULN]:

The Average True Range (ATR) for Mullen Automotive Inc. is set at 0.07 The Price to Book ratio for the last quarter was 15.08, with the Price to Cash per share for the same quarter was set at 0.11.

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 -9.59. With this latest performance, MULN shares dropped by -32.09% in over the last four-week period, additionally sinking by -3.09% over the last 6 months – not to mention a drop of -92.36% 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 36.28, with the RSI for the last a single of trading hit 32.95, and the three-weeks RSI is set at 38.75 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 1.0434, while it was recorded at 0.8398 for the last single week of trading, and 3.0634 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 1.10 and a Current Ratio set at 1.10.

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

There are presently around $26 million, or 6.80% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: VANGUARD GROUP INC with ownership of 12,719,786, which is approximately 1074.802% of the company’s market cap and around 1.50% of the total institutional ownership; BLACKROCK INC., holding 7,874,497 shares of the stock with an approximate value of $5.94 million in MULN stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $2.16 million in MULN stock with ownership of nearly 212.885% of the company’s market capitalization.

Positions in Mullen Automotive Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 59 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 29,745,942 shares. Additionally, 23 investors decreased positions by around 2,674,397 shares, while 13 investors held positions by with 1,803,685 shares. The mentioned changes placed institutional holdings at 34,224,024 shares, according to the latest SEC report filing. MULN stock had 37 new institutional investments in for a total of 3,563,569 shares, while 12 institutional investors sold positions of 1,866,701 shares during the same period.


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