Mullen Automotive Inc. [NASDAQ: MULN] surged by $0.01 during the normal trading session on Friday and reaching a high of $0.223 during the day while it closed the day at $0.22. The company report on February 14, 2023 that Mullen Automotive Provides Fiscal First Quarter 2023 Business Update.
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Momentum Building for All Mullen Automotive Brands.
Mullen Automotive Inc. stock has also loss -5.40% of its value over the past 7 days. However, MULN stock has inclined by 14.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -67.17% and lost -23.43% year-on date.
The market cap for MULN stock reached $373.20 million, with 1.75 billion shares outstanding and 1.57 billion shares in the current float. Compared to the average trading volume of 207.02M shares, MULN reached a trading volume of 141253806 in the most recent trading day, which is why market watchdogs consider the stock to be active.
MULN stock trade performance evaluation
Mullen Automotive Inc. [MULN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.40. With this latest performance, MULN shares dropped by -37.66% in over the last four-week period, additionally sinking by -67.17% over the last 6 months – not to mention a drop of -77.62% 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 33.94, with the RSI for the last a single of trading hit 28.36, and the three-weeks RSI is set at 38.56 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.3095, while it was recorded at 0.2204 for the last single week of trading, and 0.5897 for the last 200 days.
Mullen Automotive Inc. [MULN]: An insightful look at the core fundamentals
Mullen Automotive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Mullen Automotive Inc. [MULN]: Insider Ownership positions
There are presently around $24 million, or 5.10% of MULN stock, in the hands of institutional investors. The top three institutional holders of MULN stocks are: VANGUARD GROUP INC with ownership of 45,673,616, which is approximately 102.077% of the company’s market cap and around 4.90% of the total institutional ownership; BLACKROCK INC., holding 26,422,834 shares of the stock with an approximate value of $5.79 million in MULN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.43 million in MULN stock with ownership of nearly 2.083% of the company’s market capitalization.
Positions in Mullen Automotive Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 87 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 37,395,695 shares. Additionally, 32 investors decreased positions by around 10,723,320 shares, while 25 investors held positions by with 61,870,141 shares. The mentioned changes placed institutional holdings at 109,989,156 shares, according to the latest SEC report filing. MULN stock had 45 new institutional investments in for a total of 3,587,969 shares, while 11 institutional investors sold positions of 9,073,289 shares during the same period.