Mullen Automotive Inc. [MULN] is -95.58% lower this YTD. Is it still time to buy?

Mullen Automotive Inc. [NASDAQ: MULN] price plunged by -3.75 percent to reach at -$0.01. The company report on September 26, 2022 that Mullen Automotive’s ‘Strikingly Different’ Tour Kicks Off in California this October and in Nevada, November 2022.

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The Mullen FIVE “Strikingly Different” Tour commences on Oct. 27, 2022, at the Rose Bowl in Pasadena, California, and at the Las Vegas Motor Speedway in Las Vegas, Nevada, on Nov. 10, 2022.

Mullen to Begin “Strikingly Different” Tour on Oct. 27, 2022.

A sum of 76457050 shares traded at recent session while its average daily volume was at 77.03M shares. Mullen Automotive Inc. shares reached a high of $0.268 and dropped to a low of $0.229 until finishing in the latest session at $0.23.

Guru’s Opinion on Mullen Automotive Inc. [MULN]:

The Average True Range (ATR) for Mullen Automotive Inc. is set at 0.04 The Price to Book ratio for the last quarter was 4.62, with the Price to Cash per share for the same quarter was set at 0.12.

MULN Stock Performance Analysis:

Mullen Automotive Inc. [MULN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.72. With this latest performance, MULN shares dropped by -57.45% in over the last four-week period, additionally sinking by -89.30% over the last 6 months – not to mention a drop of -97.06% 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 21.83, with the RSI for the last a single of trading hit 17.88, and the three-weeks RSI is set at 25.83 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.5506, while it was recorded at 0.2471 for the last single week of trading, and 1.5427 for the last 200 days.

Insight into Mullen Automotive Inc. 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.

Mullen Automotive Inc. [MULN] Insider Position Details

There are presently around $8 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 3.30% of the total institutional ownership; BLACKROCK INC., holding 7,874,497 shares of the stock with an approximate value of $1.82 million in MULN stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.66 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 November and at the time of the November reporting period, where 57 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 28,589,871 shares. Additionally, 24 investors decreased positions by around 3,629,087 shares, while 15 investors held positions by with 1,108,636 shares. The mentioned changes placed institutional holdings at 33,327,594 shares, according to the latest SEC report filing. MULN stock had 33 new institutional investments in for a total of 2,351,238 shares, while 13 institutional investors sold positions of 2,821,391 shares during the same period.


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