MULN Stock: A Look at Financials and Caution for Prospective Investors.

The MULN Stock experienced a significant increase of over 11.0162% today, reaching a value of 0.3900 as of 12:59 PM EST, following the announcement of a new collaboration between Mullen Automotive, Loop Global, and Menzies Aviation to pilot electric vehicles and charging infrastructure at Los Angeles International Airport.Additionally, MULN  stock has a market capitalization of 660.29 million and its 50-day moving average price stands at 0.27, with a 200-day moving average price of 0.69. The company is listed on the NASDAQ stock exchange and had a volume of 210.94 million, with an average volume of 217.20 million.

Collaboration with Menzies Aviation and Loop Global at LAX

Mullen Automotive, a growing electric vehicle (EV) maker, has teamed up with Menzies Aviation and Loop Global for a pilot project at Los Angeles International Airport (LAX). The project aims to test Mullen’s Class 1 electric cargo vans and is part of Menzies Aviation’s goal of becoming carbon neutral by 2033. As the largest aviation services company in the world, Menzies operates a fleet of over 27,000 ground service equipment, including over 8,000 vehicles, at more than 250 airports across the globe. The company is committed to transitioning to electric wherever feasible to reduce emissions. Loop Global will provide charging infrastructure and fleet management software through its electric vehicle fleet as-a-service program to support Menzies in charging the Mullen electric vans between shifts.

Financials of MULN Stock

Mullen Automotive (MULN) is a company operating in the electric vehicle (EV) manufacturing sector. Currently, the company’s earnings per share (EPS) stand at -4.95 and has a negative price to earnings (P/E) ratio of -0.08, with 1.70 billion shares outstanding.

Looking at the stock price performance, the stock has seen positive price changes over the past 1 day (10.76%), 5 days (21.59%), and 1 month (21.59%). However, the price change for the past 6 months has been negative (-57.71%), and over the past 1 year, the stock price has declined by 87.24%. The negative trend continues for the longer term, with a decline of 87.92% over the past 3 years and 93.45% over the past 5 years, reaching a decline of 99.85% over the past 10 years.

The company’s financials, as of 2022-09-30, show operating expenses of 96.99 million, with operating income being -96,989,096. The company has a negative net income of -739532806, and its EPS stands at -2.66.

Financial Ratios of Mullen Automotive

MULN’s financial ratios show a current ratio (TTM) of 0.71, with a quick ratio (TTM) and cash ratio (TTM) of 0.44. The return on assets (TTM) and return on equity (TTM) are both negative, at -2.44 and -13.75 respectively. The debt ratio (TTM) and debt equity ratio (TTM) stand at 0.48 and 0.93 respectively.

The company has a negative operating cash flow per share (TTM) of -0.24 and a negative free cash flow per share (TTM) of -0.24, with a cash per share (TTM) of 0.19. The free cash flow to operating cash flow ratio (TTM) is 1, and the cash flow coverage ratios (TTM) are negative at -4.76.

Valuation of MULN Stock

In terms of valuation, the price to book value ratio (TTM) and price to book ratio (TTM) both stand at 0.69, while the price to earnings ratio (TTM) is -0.15. The price to free cash flows ratio (TTM) and price to operating cash flows ratio (TTM) both stand at -1.65, with the price to cash flow ratio (TTM) also at -1.65. The enterprise value multiple (TTM) is -0.1, and the price to fair value (TTM) is 0.69.

Conclusion

In conclusion, the company’s financials indicate a negative trend in its performance, with declining earnings and negative cash flows. Additionally, the company has a high debt to equity ratio, low liquidity ratios, and a negative return on assets and return on equity. While the recent stock price change has been positive, it may be wise for retail investors to exercise caution and conduct further research before investing in MULN stock.

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