Mullen Automotive Inc. [MULN] moved up 7.30: Why It’s Important

Mullen Automotive Inc. [NASDAQ: MULN] price surged by 7.30 percent to reach at $0.03. The company report on October 21, 2022 that Mullen Automotive Taps Former GM Executive John Schwegman as Chief Commercial Officer for Next Phase of EV Growth.

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Schwegman, With 35 years of Experience With GM, Will Oversee the Implementation of all Commercial Strategies for Mullen Automotive’s Commercial EV Vehicle Division.

A sum of 187226745 shares traded at recent session while its average daily volume was at 93.89M shares. Mullen Automotive Inc. shares reached a high of $0.3849 and dropped to a low of $0.3242 until finishing in the latest session at $0.38.

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

The Average True Range (ATR) for Mullen Automotive Inc. is set at 0.05 The Price to Book ratio for the last quarter was 7.52, with the Price to Cash per share for the same quarter was set at 0.12.

MULN Stock Performance Analysis:

Mullen Automotive Inc. [MULN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 62.67. With this latest performance, MULN shares gained by 2.45% in over the last four-week period, additionally sinking by -74.59% over the last 6 months – not to mention a drop of -94.96% 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 51.45, with the RSI for the last a single of trading hit 62.17, and the three-weeks RSI is set at 44.10 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.4994, while it was recorded at 0.3018 for the last single week of trading, and 1.4157 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 $13 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 $2.96 million in MULN stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $1.08 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 58 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 28,747,544 shares. Additionally, 23 investors decreased positions by around 3,643,396 shares, while 16 investors held positions by with 1,094,427 shares. The mentioned changes placed institutional holdings at 33,485,367 shares, according to the latest SEC report filing. MULN stock had 35 new institutional investments in for a total of 2,509,011 shares, while 12 institutional investors sold positions of 2,835,700 shares during the same period.


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