Mullen Automotive (NASDAQ:MULN) Stock Price Down 13.7% – Should You Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 13.7% during trading on Thursday . The stock traded as low as $1.06 and last traded at $1.11. 2,356,469 shares changed hands during trading, an increase of 1,400% from the average session volume of 157,069 shares. The stock had previously closed at $1.28.

Mullen Automotive Trading Down 12.5 %

The firm’s 50 day moving average is $229.72 and its 200 day moving average is $6,516.81.

Mullen Automotive (NASDAQ:MULN) last announced its earnings results on Wednesday, February 19th. The company reported ($66,133.00) EPS for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. The firm had revenue of $2.92 million during the quarter.

Insider Buying and Selling

In other Mullen Automotive news, major shareholder Financial Lp Hrt purchased 5,467 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $8.00 per share, with a total value of $43,736.00. Following the completion of the transaction, the insider now directly owns 6,653 shares of the company’s stock, valued at approximately $53,224. This trade represents a 460.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Winter sold 620 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $201.00, for a total value of $124,620.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 667 shares of company stock worth $143,911. Corporate insiders own 3.63% of the company’s stock.

Institutional Inflows and Outflows

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) in the third 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 and hedge funds 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.