Mullen Group (OTCMKTS:MLLGF) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Mullen Group Ltd. (OTCMKTS:MLLGF) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.09 and traded as high as $12.0120. Mullen Group shares last traded at $12.0120, with a volume of 383 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MLLGF shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Mullen Group in a report on Thursday, January 8th. Raymond James Financial downgraded shares of Mullen Group from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Mullen Group in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Mullen Group Price Performance

The stock has a fifty day simple moving average of $12.24 and a 200-day simple moving average of $11.09.

Mullen Group Company Profile

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.