Mullen Group (OTCMKTS:MLLGF) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Mullen Group Ltd. (OTCMKTS:MLLGF)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.91 and traded as high as $16.37. Mullen Group shares last traded at $16.26, with a volume of 400 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MLLGF shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Mullen Group in a research report on Friday, April 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Mullen Group in a report on Friday, April 24th. TD Securities reiterated a “buy” rating on shares of Mullen Group in a report on Friday, April 24th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Mullen Group in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Mullen Group Price Performance

The firm has a 50-day simple moving average of $14.85 and a 200 day simple moving average of $12.91.

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.