Market cap of Mullen Automotive Inc. [MULN] reaches 323.64M – now what?

Mullen Automotive Inc. [NASDAQ: MULN] traded at a low on 09/02/22, posting a -1.64 loss after which it closed the day’ session at $0.63. The company report on September 1, 2022 that Mullen Signs Partnership with Watergen to Launch Water-from-Air Solutions for EVs.

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Watergen Inc., an Israel-based global leader in atmospheric drinking water devices, is teaming up with Mullen Automotive to launch water-from-air solutions for Mullen’s EVs. Watergen also has current collaborations in place with leading OEMs and Fortune 500 companies. Mullen will be the first to launch and implement Watergen in its entire lineup of electric vehicles.

via InvestorWire — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces a signed partnership with Watergen Inc. to develop and equip Mullen’s portfolio of electric vehicles with technology that will produce fresh drinking water from the air for in-vehicle consumer and commercial applications.

The results of the trading session contributed to over 64740825 shares changing hands. Over the past one week, the price volatility of Mullen Automotive Inc. stands at 10.59% while the volatility over the past one month is 8.83%.

The market cap for MULN stock reached $323.64 million, with 376.79 million shares outstanding. Compared to the average trading volume of 63.24M shares, MULN reached a trading volume of 64740825 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 12.51, with the Price to Cash per share for the same quarter was set at 0.12.

How has MULN stock performed recently?

Mullen Automotive Inc. [MULN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.68. With this latest performance, MULN shares dropped by -25.84% in over the last four-week period, additionally sinking by -20.38% over the last 6 months – not to mention a drop of -93.74% 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 33.21, with the RSI for the last a single of trading hit 31.03, and the three-weeks RSI is set at 35.92 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.9195, while it was recorded at 0.6362 for the last single week of trading, and 2.5022 for the last 200 days.

Mullen Automotive Inc. [MULN]: Deeper insight into the fundamentals

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.

Insider trade positions for Mullen Automotive Inc. [MULN]

There are presently around $21 million, or 6.70% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: VANGUARD GROUP INC with ownership of 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 $4.92 million in MULN stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $1.79 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 58 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 29,317,752 shares. Additionally, 24 investors decreased positions by around 3,102,587 shares, while 13 investors held positions by with 1,375,495 shares. The mentioned changes placed institutional holdings at 33,795,834 shares, according to the latest SEC report filing. MULN stock had 36 new institutional investments in for a total of 3,135,379 shares, while 13 institutional investors sold positions of 2,294,891 shares during the same period.


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