Mullen Automotive Inc. [NASDAQ: MULN] stock went on a downward path that fall over -6.39% on Friday, amounting to a one-week price increase of more than 10.16%. The company report on November 10, 2022 that BOLLINGER MOTORS ANNOUNCES OUR NEXT ENERGY AS BATTERY SUPPLIER FOR ELECTRIC COMMERCIAL TRUCKS.
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Our Next Energy (ONE) will build battery packs for Bollinger locally in Van Buren Twp., Michigan.
Over the last 12 months, MULN stock dropped by -97.56%.
The market cap for the stock reached $168.04 million, with 376.79 million shares outstanding and 332.98 million shares in the current float. Compared to the average trading volume of 141.52M shares, MULN stock reached a trading volume of 189413807 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Mullen Automotive Inc. [MULN]:
The Average True Range (ATR) for Mullen Automotive Inc. is set at 0.06 The Price to Book ratio for the last quarter was 6.18, with the Price to Cash per share for the same quarter was set at 0.11.
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 10.16. With this latest performance, MULN shares gained by 28.60% in over the last four-week period, additionally sinking by -68.77% over the last 6 months – not to mention a drop of -97.56% 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 43.32, with the RSI for the last a single of trading hit 43.19, and the three-weeks RSI is set at 42.52 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.3974, while it was recorded at 0.2911 for the last single week of trading, and 1.1541 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 $11 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 9.00% of the total institutional ownership; BLACKROCK INC., holding 7,874,497 shares of the stock with an approximate value of $2.43 million in MULN stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.89 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 67 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 28,675,967 shares. Additionally, 26 investors decreased positions by around 3,819,000 shares, while 16 investors held positions by with 1,564,383 shares. The mentioned changes placed institutional holdings at 34,059,350 shares, according to the latest SEC report filing. MULN stock had 38 new institutional investments in for a total of 2,161,551 shares, while 14 institutional investors sold positions of 2,593,020 shares during the same period.