Mullen Automotive Inc (NASDAQ:MULN) shares, rose in value, with the stock price down by -15.92% to the previous day’s close as strong demand from buyers drove the stock to $3.17.
Actively observing the price movement in the last trading, the stock closed the session at $3.77. Referring to stock’s 52-week performance, its high was $2250.00, and the low was $2.36. On the whole, MULN has fluctuated by -26.45% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 131.4M, with a low estimate of 37.3M and a high estimate of 37.3M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 37.3M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that MULN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MULN currently trading nearly -16.03% and -41.09% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.30, while the 7-day volatility ratio is showing 20.32% which for the 30-day chart, stands at 12.05%. Furthermore, Mullen Automotive Inc (MULN)’s beta value is 2.10, and its average true range (ATR) is 0.48.
A comparison of Mullen Automotive Inc (MULN) with its peers suggests the former has fared considerably weaker in the market. MULN showed an intraday change of -15.92% in last session, and over the past year, it shrunk by -99.84%%.
Data on historical trading for Mullen Automotive Inc (NASDAQ:MULN) indicates that the trading volumes over the past 3 months, they’ve averaged 882.32K. According to company’s latest data on outstanding shares, there are 6.55 million shares outstanding.
Nearly 1.68% of Mullen Automotive Inc’s shares belong to company insiders and institutional investors own 11.69% of the company’s shares. The stock has fallen by -77.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MULN stock heading into the next quarter.
