Mullen Group (OTCMKTS:MLLGF) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Mullen Group Ltd. (OTCMKTS:MLLGF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.25 and traded as high as $12.4780. Mullen Group shares last traded at $12.4780, with a volume of 500 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Mullen Group in a report on Thursday, January 8th. Scotiabank reiterated a “sector perform” rating on shares of Mullen Group in a research report on Wednesday, January 21st. Finally, Raymond James Financial downgraded shares of Mullen Group from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Mullen Group currently has an average rating of “Moderate Buy”.

Mullen Group Stock Up 3.5%

The firm’s fifty day moving average price is $12.29 and its 200-day moving average price is $11.25.

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.