Mullen Automotive (NASDAQ:MULN) Shares Down 10.4%

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 10.4% during mid-day trading on Wednesday . The stock traded as low as $1.18 and last traded at $1.21. 2,334,339 shares changed hands during trading, a decline of 19% from the average session volume of 2,892,465 shares. The stock had previously closed at $1.35.

Mullen Automotive Trading Down 13.8 %

The company has a 50-day moving average price of $2.61 and a 200-day moving average price of $4.77.

Mullen Automotive (NASDAQ:MULN) last announced its earnings results on Tuesday, May 14th. The company reported ($19.39) earnings per share (EPS) for the quarter. The company had revenue of $0.02 million during the quarter.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, insider Calin Popa sold 23,223 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $3.10, for a total transaction of $71,991.30. Following the completion of the sale, the insider now directly owns 286,506 shares of the company’s stock, valued at approximately $888,168.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent reporting period. 11.71% of the stock is currently owned by institutional investors.

About Mullen Automotive

Mullen Automotive, Inc, an electric vehicle company, manufactures, sells, and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California.