Market cap of Mullen Automotive Inc. [MULN] reaches 541.24M – now what?

Mullen Automotive Inc. [NASDAQ: MULN] price surged by 2.44 percent to reach at $0.01. The company report on January 26, 2023 that Mullen Announces Key Hires Across EV Programs.


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Mullen adds key hires in support of commercial and consumer vehicle programs across product development, manufacturing and commercial sales.

A sum of 240420457 shares traded at recent session while its average daily volume was at 219.80M shares. Mullen Automotive Inc. shares reached a high of $0.3498 and dropped to a low of $0.315 until finishing in the latest session at $0.33.

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 3.27, with the Price to Cash per share for the same quarter was set at 0.03.

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 10.81. With this latest performance, MULN shares gained by 52.05% in over the last four-week period, additionally sinking by -59.40% over the last 6 months – not to mention a drop of -89.72% 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 53.08, with the RSI for the last a single of trading hit 52.93, and the three-weeks RSI is set at 52.38 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.2698, while it was recorded at 0.3172 for the last single week of trading, and 0.7213 for the last 200 days.

Insight into Mullen Automotive Inc. Fundamentals:

Mullen Automotive Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.70.

Mullen Automotive Inc. [MULN] Insider Position Details

There are presently around $27 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 $7.39 million in MULN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $2.09 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 February and at the time of the February reporting period, where 72 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 51,901,280 shares. Additionally, 27 investors decreased positions by around 2,563,249 shares, while 18 investors held positions by with 28,775,057 shares. The mentioned changes placed institutional holdings at 83,239,586 shares, according to the latest SEC report filing. MULN stock had 30 new institutional investments in for a total of 9,860,170 shares, while 18 institutional investors sold positions of 965,102 shares during the same period.

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