Selling Buzz: Mullen Automotive Inc. [MULN] CEO, President Michery David sells 350,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Mullen Automotive Inc. shares valued at $391,965 were sold by Michery David on Jun 29. At $1.12 per share, Michery David sold 350,000 shares. The insider’s holdings dropped to 7,411,066 shares worth approximately $6.23 million following the completion of this transaction.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


Also, Michery David sold 150,000 shares, netting a total of over 165,255 in proceeds. Following the sale of shares at $1.10 each, the insider now holds 7,761,066 shares.

Before that, Michery David had sold 750,000 shares from its account. In a trade valued at $760,875, the CEO, President traded Mullen Automotive Inc. shares for $1.01 each. Upon closing the transaction, the insider’s holdings decreased to 750,000 shares, worth approximately $6.65 million.

Analyzing MULN’s Price Performance

On Thursday, Mullen Automotive Inc. [NASDAQ: MULN] plunged -8.63% to $0.84. The stock’s lowest price that day was $0.8111, but it reached a high of $0.9349 in the same session. During the last five days, there has been a surge of approximately 4.74%. Over the course of the year, Mullen Automotive Inc. shares have dropped approximately -83.87%. 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 $1.1271, while a 200-day SMA reached $3.4715. Nevertheless, trading volume fell to 77.48 million shares from 53.71 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 0.7914, which, if violated, would cause prices to drop to 0.7393. In the upper region, resistance lies at 0.9152. The next price resistance is at 0.9869. RSI (Relative Strength Index) is 38.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0545, which suggests the price will decrease in the coming days. Percent R is at 78.05%, indicating bearish 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 Jul 14, 2022 jumping by 16.79 million shares to 59.67 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 42.88 million shares. A jump of 28.14% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.98 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.98.

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 transaction, The Vanguard Group, Inc.’s stake is now worth $1,101,979. Susquehanna Financial Group LLLP acquire a 933.12% interest valued at $0.85 million while HRT Financial LLC 800,506 stake. In its current portfolio, Citadel Advisors LLC holds 531,901 shares valued at $0.54 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 2400.0% from the previous closing price of $0.92. 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here