Saturday, June 25, 2022

Mullen Automotive Inc. [MULN] CEO, President makes an insider purchase of 150,000 shares worth 0.17 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mullen Automotive Inc. shares valued at $165,255 were sold by Michery David on Jun 15. At $1.10 per share, Michery David sold 150,000 shares. The insider’s holdings dropped to 7,761,066 shares worth approximately $12.42 million following the completion of this transaction.


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Also, Michery David sold 750,000 shares, netting a total of over 760,875 in proceeds. Following the sale of shares at $1.01 each, the insider now holds 7,911,066 shares.

Before that, New Jonathan had sold 10,000 shares from its account. In a trade valued at $29,902, the Director traded Mullen Automotive Inc. shares for $2.99 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $13777.6.

As published in their initiating research note from Citigroup on May 24, 2022, The Hartford Financial Services Group Inc. [HIG] has been a Buy and the price target has been revised to $81. This represents a 19.47% premium over Wednesday’s closing price. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in late November. As of November 19, 2021, Jefferies has initiated its “Hold” rating for HIG.

Analyzing MULN’s Price Performance

On Wednesday, Mullen Automotive Inc. [NASDAQ: MULN] rose 5.26% to $1.60. The stock’s lowest price that day was $1.51, but it reached a high of $1.71 in the same session. During the last five days, there has been a surge of approximately 49.53%. Over the course of the year, Mullen Automotive Inc. shares have dropped approximately -69.41%. Shares of the company reached a 52-week high of $5.8600 on 01/03/22 and a 52-week low of $0.5200 on 02/24/22. A 50-day SMA is recorded $1.3291, while a 200-day SMA reached $4.5930. Nevertheless, trading volume fell to 92.11 million shares from 102.35 million shares the previous day.

Support And Resistance Levels for Mullen Automotive Inc. (MULN)

According to the 24-hour chart, there is a support level at 1.5033, which, if violated, would cause prices to drop to 1.4067. In the upper region, resistance lies at 1.7033. The next price resistance is at 1.8067. RSI (Relative Strength Index) is 63.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.2079, which suggests the price will decrease in the coming days. Percent R is at 15.49%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Mullen Automotive Inc. subject to short interest?

Stocks of Mullen Automotive Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 9.97 million shares to 38.26 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 28.29 million shares. A jump of 26.06% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.4.

Which companies own the most shares of Mullen Automotive Inc. (MULN)?

According to Esousa Holdings LLC filings, the company currently owns 18,000,000 shares, which is about 5.41% of the total MULN shares outstanding. The investor’s shares have appreciated by 17,522,334 from its previous 13-F filing of 477666.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $1,512,521. Susquehanna Financial Group LLLP acquire a 933.12% interest valued at $1.17 million while HRT Financial LLC 800,506 stake. A total of 488,446 shares of Mullen Automotive Inc. by BlackRock Fund Advisors during the quarter, and 520,196 were bought by Citadel Advisors LLC. In its current portfolio, ExodusPoint Capital Management LP holds 428,190 shares valued at $0.6 million.

In terms of Mullen Automotive Inc. share price expectations, FactSet research, analysts set an average price target of $23.00 in the next 12 months, up nearly 1413.16% from the previous closing price of $1.52. Analysts anticipate Mullen Automotive Inc. stock to reach $23.00 by 2022, with the lowest price target being $23.00. In spite of this, 0 analysts ranked Mullen Automotive Inc. stock as a – at the end of 2022.

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