Mullen Automotive (NASDAQ:MULN) Stock Price Up 9.6% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN) was up 9.6% on Friday . The company traded as high as $0.11 and last traded at $0.09. Approximately 258,018,091 shares changed hands during trading, an increase of 4,212% from the average daily volume of 5,983,743 shares. The stock had previously closed at $0.08.

Mullen Automotive Trading Down 2.5 %

The business has a 50-day moving average of $6.67 and a 200-day moving average of $96.66.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share (EPS) for the quarter. The company 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%.

Insiders Place Their Bets

In related news, 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 value of $124,620.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Kevin Andersen sold 174,500 shares of the business’s stock in a transaction that occurred 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 transaction, 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. Insiders have sold 241,216 shares of company stock worth $302,766 over the last three months. Company insiders own 3.63% of the company’s stock.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to its most recent 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 reporting period. 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.