Mullen Automotive (NASDAQ:MULN) Trading Down 5.1% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) was down 5.1% on Wednesday . The company traded as low as $0.96 and last traded at $1.03. Approximately 1,011,798 shares changed hands during trading, an increase of 85% from the average daily volume of 547,831 shares. The stock had previously closed at $1.08.

Mullen Automotive Stock Performance

The business’s 50 day simple moving average is $16.95 and its two-hundred day simple moving average is $231.02.

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

In related news, Director Mary Winter sold 62,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total value of $124,620.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Kevin Andersen sold 174,500 shares of the company’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 transaction, the director now owns 9 shares in the company, valued at $8.19. This represents a 99.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,216 shares of company stock worth $302,766. Company insiders own 3.63% of the company’s stock.

Hedge Funds Weigh In On Mullen Automotive

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