why Mullen Automotive Inc [MULN] is a Good Choice for Investors After New Price Target of $5.17

Mullen Automotive Inc [NASDAQ: MULN] slipped around -0.02 points on Friday, while shares priced at $0.20 at the close of the session, down -12.00%. The company report on November 6, 2023 at 9:30 AM that Mullen Receives EPA Certificate of Conformity for Class 1 EV Cargo Vans, Effective Nov. 2, 2023.

The Mullen ONE, the first electric Class 1 cargo van available in the U.S., is providing Mullen with a first mover market opportunity.

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Mullen “Strikingly Different” EV Tour recently stopped in Las Vegas, NV.

Mullen Automotive Inc stock is now -99.70% down from its year-to-date (YTD) trading value. MULN Stock saw the intraday high of $0.2252 and lowest of $0.19 per share. The company’s 52-week high price is 107.44, which means current price is +3.05% above from all time high which was touched on 01/06/23.

Compared to the average trading volume of 61.04M shares, MULN reached a trading volume of 58160782 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 0.05, with the Price to Sales ratio for MULN stock in the period of the last 12 months amounting to 181.38. The Price to Book ratio for the last quarter was 0.07, with the Price to Cash per share for the same quarter was set at 0.79.

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 -33.90. With this latest performance, MULN shares dropped by -53.16% in over the last four-week period, additionally sinking by -98.29% over the last 6 months – not to mention a drop of -99.68% 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 31.69, with the RSI for the last a single of trading hit 28.55, and the three-weeks RSI is set at 32.41 for Mullen Automotive Inc [MULN]. The present Moving Average for the last 50 days of trading for this stock 0.4059, while it was recorded at 0.2494 for the last single week of trading, and 16.0011 for the last 200 days.

Mullen Automotive Inc [MULN]: Deeper insight into the fundamentals

Return on Total Capital for MULN is now -128.89, given the latest momentum, and Return on Invested Capital for the company is -19,423.93. When it comes to the capital structure of this company, Mullen Automotive Inc [MULN] has a Total Debt to Total Equity ratio set at 23.53. Additionally, MULN Total Debt to Total Capital is recorded at 19.05, with Total Debt to Total Assets ending up at 4.56. Long-Term Debt to Equity for the company is recorded at 14.52, with the Long-Term Debt to Total Capital now at 11.76.

Reflecting on the efficiency of the workforce at the company, Mullen Automotive Inc [MULN] managed to generate an average of -$6,267,227 per employee.Mullen Automotive Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.28 and a Current Ratio set at 1.34.

Insider trade positions for Mullen Automotive Inc [MULN]

The top three institutional holders of MULN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in MULN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in MULN stock with ownership which is approximately 5.7994%.