Mullen Automotive Inc. [MULN] Is Currently -9.20 below its 200 Period Moving Avg: What Does This Mean?

Mullen Automotive Inc. [NASDAQ: MULN] traded at a low on 03/17/23, posting a -9.20 loss after which it closed the day’ session at $0.14. The company report on March 16, 2023 that Mullen CEO David Michery Releases Statement Addressing Shareholder Inquires.

The results of the trading session contributed to over 405656295 shares changing hands. Over the past one week, the price volatility of Mullen Automotive Inc. stands at 13.52% while the volatility over the past one month is 11.92%.

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The market cap for MULN stock reached $316.97 million, with 2.13 billion shares outstanding and 1.95 billion shares in the current float. Compared to the average trading volume of 209.08M shares, MULN reached a trading volume of 405656295 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 -20.47. With this latest performance, MULN shares dropped by -60.64% in over the last four-week period, additionally sinking by -75.12% over the last 6 months – not to mention a drop of -92.27% 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 23.36, with the RSI for the last a single of trading hit 15.14, and the three-weeks RSI is set at 30.19 for Mullen Automotive Inc. [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.2933, while it was recorded at 0.1507 for the last single week of trading, and 0.5447 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 0.30 and a Current Ratio set at 0.30.

Insider trade positions for Mullen Automotive Inc. [MULN]

There are presently around $15 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 $3.57 million in MULN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.88 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 Tuesday and at the time of the Tuesday reporting period, where 88 institutional holders increased their position in Mullen Automotive Inc. [NASDAQ:MULN] by around 37,396,235 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 109,989,696 shares, according to the latest SEC report filing. MULN stock had 46 new institutional investments in for a total of 3,588,509 shares, while 11 institutional investors sold positions of 9,073,289 shares during the same period.


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