Mullen Automotive (NASDAQ:MULN) Stock Price Down 0.8% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 0.8% on Friday . The stock traded as low as $0.73 and last traded at $0.82. Approximately 1,505,907 shares were traded during trading, an increase of 156% from the average daily volume of 588,663 shares. The stock had previously closed at $0.83.

Mullen Automotive Stock Performance

The stock’s fifty day simple moving average is $16.95 and its 200-day simple moving average is $231.02.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share 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 Transactions at Mullen Automotive

In other news, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total transaction of $158,795.00. Following the sale, the director now directly owns 9 shares in the company, valued at $8.19. The trade was a 99.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Winter sold 62,000 shares of the stock in a transaction dated 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 have sold 241,216 shares of company stock worth $302,766 in the last 90 days. Insiders own 3.63% of the company’s stock.

Institutional Investors 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) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive at the end of the most recent quarter. 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.