Mullen Automotive (NASDAQ:MULN) Stock Price Down 5.3%

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 5.3% on Monday . The company traded as low as $0.55 and last traded at $0.57. 4,820,899 shares changed hands during trading, an increase of 40% from the average session volume of 3,450,778 shares. The stock had previously closed at $0.60.

Mullen Automotive Price Performance

The company’s fifty day moving average price is $2.08 and its 200 day moving average price is $4.32.

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

Insiders Place Their Bets

In other news, insider Calin Popa sold 23,223 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $3.10, for a total transaction of $71,991.30. Following the completion of the transaction, the insider now owns 286,506 shares of the company’s stock, valued at $888,168.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive at the end of the most recent quarter. Hedge funds and other institutional investors own 11.71% of the company’s stock.

Mullen Automotive Company Profile

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.