Mullen Automotive (NASDAQ:MULN) Stock Price Down 3.3% – Here’s What Happened

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 3.3% on Thursday . The company traded as low as $0.36 and last traded at $0.39. Approximately 5,450,651 shares changed hands during mid-day trading, an increase of 648% from the average daily volume of 729,010 shares. The stock had previously closed at $0.40.

Mullen Automotive Stock Down 12.3 %

The business’s fifty day moving average is $12.89 and its two-hundred day moving average is $174.31.

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

Insider Activity at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the company’s 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 transaction, the director now directly owns 9 shares in the company, valued at approximately $8.19. This represents a 99.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Winter sold 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total transaction of $124,620.00. The disclosure for this sale can be found here. Insiders sold a total of 241,216 shares of company stock worth $302,766 in the last 90 days. 3.63% of the stock is owned by insiders.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% 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.

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.