Mullen Group (OTCMKTS:MLLGF) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Mullen Group Ltd. (OTCMKTS:MLLGF) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.75 and traded as high as $19.51. Mullen Group shares last traded at $19.29, with a volume of 16,176 shares trading hands.

Wall Street Analysts Forecast Growth

MLLGF has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Mullen Group in a research report on Friday, July 24th. Scotiabank reaffirmed a “sector perform” rating on shares of Mullen Group in a research report on Thursday, July 16th. BMO Capital Markets reiterated an “outperform” rating on shares of Mullen Group in a research note on Friday, July 24th. Royal Bank Of Canada reissued an “outperform” rating on shares of Mullen Group in a report on Friday, July 24th. Finally, TD Securities restated a “buy” rating on shares of Mullen Group in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Mullen Group currently has an average rating of “Moderate Buy”.

Mullen Group Stock Up 0.4%

The company has a 50-day simple moving average of $17.28 and a two-hundred day simple moving average of $14.78.

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.