Mullen Automotive (NASDAQ:MULN) Trading Up 2.2% – Here’s Why

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded up 2.2% during mid-day trading on Wednesday . The stock traded as high as $0.47 and last traded at $0.47. 4,379,851 shares traded hands during mid-day trading, an increase of 548% from the average session volume of 676,327 shares. The stock had previously closed at $0.46.

Mullen Automotive Stock Down 11.8 %

The company has a fifty day moving average of $13.68 and a 200-day moving average of $175.53.

Mullen Automotive (NASDAQ:MULN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($661.33) earnings per share (EPS) for the quarter. Mullen Automotive had a negative net margin of 12,717.94% and a negative return on equity of 2,736.27%. The firm had revenue of $2.92 million during the quarter.

Insiders Place Their Bets

In other news, Director Mary Winter sold 62,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total value of $124,620.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John Kevin Andersen sold 174,500 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total value of $158,795.00. Following the completion of the transaction, the director now owns 9 shares in the company, valued at approximately $8.19. The trade was a 99.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,216 shares of company stock worth $302,766 in the last quarter. 3.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is currently owned by institutional investors and hedge funds.

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.