A company insider recently sold 159,066 shares of Mullen Automotive Inc. [MULN]. Should You Sale?


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 $36,506 were sold by New Jonathan on Mar 06. At $0.23 per share, New Jonathan sold 159,066 shares. The insider’s holdings dropped to 8,611 shares worth approximately $8180.45 following the completion of this transaction.

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Also, Michery David sold 14,937,660 shares, netting a total of over 4,726,276 in proceeds. Following the sale of shares at $0.32 each, the insider now holds 113,665,510 shares.

Before that, PUCKETT KENT had sold 100,000 shares from its account. In a trade valued at $33,000, the Director traded Mullen Automotive Inc. shares for $0.33 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $0.0.

Analyzing MULN Stock Performance

On Thursday, Mullen Automotive Inc. [NASDAQ: MULN] rose 19.06% to $0.95. The stock’s lowest price that day was $0.72, but it reached a high of $0.9899 in the same session. During the last five days, there has been a drop of approximately -19.91%. Over the course of the year, Mullen Automotive Inc. shares have dropped approximately -86.67%. Shares of the company reached a 52-week high of $11.9375 on 01/06/23 and a 52-week low of $0.7200 on 05/25/23. A 50-day SMA is recorded $2.1346, while a 200-day SMA reached $7.4370. Nevertheless, trading volume fell to 89.62 million shares from 43.79 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 0.7854, which, if violated, would cause prices to drop to 0.6178. In the upper region, resistance lies at 1.0553. The next price resistance is at 1.1576. RSI (Relative Strength Index) is 28.96 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.2945, which suggests the price will decrease in the coming days. Percent R is at 74.10%, indicating bearish price movement. Stochastics %K at buying 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 May 14, 2023 jumping by 18.97 million shares to 32.74 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 13.77 million shares. A jump of 57.94% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.72 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.72.

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

According to State Street Global Advisors Trus filings, the company currently owns 34,711 shares, which is about 0.00% of the total MULN shares outstanding.

In terms of Mullen Automotive Inc. share price expectations, FactSet research, analysts set an average price target of $575.00 in the next 12 months, up nearly 71775.0% from the previous closing price of $0.80. Analysts anticipate Mullen Automotive Inc. stock to reach $575.00 by 2023, with the lowest price target being $575.00. In spite of this, 0 analysts ranked Mullen Automotive Inc. stock as a – at the end of 2023.


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