Mullen Automotive (NASDAQ:MULN) Stock Price Down 11.7% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares fell 11.7% on Thursday . The company traded as low as $0.17 and last traded at $0.18. 34,471,059 shares changed hands during mid-day trading, an increase of 1,034% from the average session volume of 3,040,244 shares. The stock had previously closed at $0.20.

Mullen Automotive Stock Down 17.8 %

The firm’s 50 day simple moving average is $9.88 and its 200-day simple moving average is $130.28.

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

Insider Transactions at Mullen Automotive

In other news, Director Mary Winter sold 62,000 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Kevin Andersen sold 174,500 shares of the stock in a transaction dated 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 owns 9 shares of the company’s stock, valued at $8.19. This trade represents a 99.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,216 shares of company stock worth $302,766. Insiders own 3.63% of the company’s stock.

Institutional Trading of Mullen Automotive

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