Mullen Automotive (NASDAQ:MULN) Trading Down 1.2% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares fell 1.2% during trading on Thursday . The company traded as low as $1.74 and last traded at $1.83. 727,779 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,882,628 shares. The stock had previously closed at $1.85.

Mullen Automotive Stock Performance

The firm’s 50 day moving average price is $24.64 and its two-hundred day moving average price is $293.07.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share for the quarter. The business 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 Buying and Selling

In other news, Director John Kevin Andersen sold 174,500 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total transaction of $158,795.00. Following the completion of the sale, the director now owns 9 shares in the company, valued at approximately $8.19. This trade represents a 99.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 179,216 shares of company stock valued at $178,146. 3.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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.