Mullen Group (OTCMKTS:MLLGF) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Mullen Group Ltd. (OTCMKTS:MLLGF) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $17.05 and traded as high as $22.26. Mullen Group shares last traded at $22.21, with a volume of 16,557 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Mullen Group in a research note on Monday, October 5th. Scotiabank set a $33.00 price target on shares of Mullen Group in a research note on Friday. Royal Bank Of Canada reissued an “outperform” rating on shares of Mullen Group in a report on Friday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Mullen Group in a report on Friday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Mullen Group Trading Down 2.2%

The stock has a fifty day moving average price of $18.88 and a two-hundred day moving average price of $17.08.

Mullen Group Company Profile

Mullen Group Ltd. is a Canadian logistics and transportation company headquartered in Okotoks, Alberta. Through a network of operating companies, it provides freight transportation, specialized hauling, logistics, warehousing and related supply-chain services to customers across Canada and the United States.

The company’s transportation activities include less-than-truckload, truckload and specialized freight services, including the movement of industrial, energy, construction and other oversized or specialized cargo.