Mullen Automotive Inc. [MULN] is -95.52% lower this YTD. Is it still time to buy?

Mullen Automotive Inc. [NASDAQ: MULN] traded at a high on 12/23/22, posting a 2.40 gain after which it closed the day’ session at $0.23. The company report on December 22, 2022 that I-GO™ Arrives in Europe.

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Mullen Automotive’s I-GO™, Commercial Urban Delivery EV, arrives in Europe with sample vehicles in transit to Newgate Motor Group in Ireland.

The results of the trading session contributed to over 122338474 shares changing hands. Over the past one week, the price volatility of Mullen Automotive Inc. stands at 13.38% while the volatility over the past one month is 13.65%.

The market cap for MULN stock reached $380.45 million, with 1.66 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 190.43M shares, MULN reached a trading volume of 122338474 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 0.04 The Price to Book ratio for the last quarter was 4.69, with the Price to Cash per share for the same quarter was set at 0.04.

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 -22.44. With this latest performance, MULN shares gained by 14.40% in over the last four-week period, additionally sinking by -82.11% over the last 6 months – not to mention a drop of -96.00% 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 47.18, with the RSI for the last a single of trading hit 48.59, and the three-weeks RSI is set at 45.32 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.2871, while it was recorded at 0.2368 for the last single week of trading, and 0.9673 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 $19 million, or 5.10% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: BLACKROCK INC. with ownership of 26,285,775, which is approximately 233.809% of the company’s market cap and around 4.90% of the total institutional ownership; VANGUARD GROUP INC, holding 22,602,115 shares of the stock with an approximate value of $5.29 million in MULN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.5 million in MULN stock with ownership of nearly 139.819% 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 72 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 52,335,301 shares. Additionally, 24 investors decreased positions by around 2,826,354 shares, while 20 investors held positions by with 28,155,126 shares. The mentioned changes placed institutional holdings at 83,316,781 shares, according to the latest SEC report filing. MULN stock had 32 new institutional investments in for a total of 10,106,291 shares, while 17 institutional investors sold positions of 1,231,602 shares during the same period.


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