Mullen Group (OTCMKTS:MLLGF) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Mullen Group Ltd. (OTCMKTS:MLLGF) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.71 and traded as high as $12.47. Mullen Group shares last traded at $12.46, with a volume of 11,845 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MLLGF. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Mullen Group in a research report on Thursday, January 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Mullen Group in a report on Thursday, October 23rd. Raymond James Financial cut Mullen Group from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. TD Securities reaffirmed a “buy” rating on shares of Mullen Group in a research report on Thursday, October 23rd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Mullen Group in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Mullen Group Price Performance

The business’s 50-day moving average is $11.94 and its two-hundred day moving average is $10.71.

About Mullen Group

Mullen Group Ltd. is a diversified transportation and logistics company headquartered in Okotoks, Alberta. Founded in 1949 as a regional trucking firm, the company has grown through a combination of organic expansion and targeted acquisitions to become one of Canada’s leading asset-based carriers. Mullen Group provides full-service solutions across a range of industries, with a focus on temperature-controlled freight, bulk and specialized haulage, and dedicated contract carriage.

The company operates through several complementary business segments, including truckload and less-than-truckload (LTL) services, logistics and warehousing, courier and parcel delivery, and international freight forwarding.