Mullen Automotive (NASDAQ:MULN) Trading Down 15.6% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 15.6% during trading on Friday . The stock traded as low as $0.13 and last traded at $0.14. 19,394,719 shares changed hands during mid-day trading, an increase of 494% from the average session volume of 3,262,445 shares. The stock had previously closed at $0.16.

Mullen Automotive Stock Performance

The company’s 50-day moving average is $9.30 and its 200-day moving average is $129.38.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($661.33) 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 business had revenue of $2.92 million during the quarter.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the business’s stock in a transaction on 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 owns 9 shares in the company, valued at $8.19. The trade was a 99.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Winter sold 62,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total value of $124,620.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,216 shares of company stock worth $302,766. 3.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 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.