Mullen Automotive (NASDAQ:MULN) Stock Price Up 6.2% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price rose 6.2% on Monday . The company traded as high as $0.36 and last traded at $0.31. Approximately 15,644,155 shares changed hands during trading, an increase of 1,665% from the average daily volume of 886,588 shares. The stock had previously closed at $0.29.

Mullen Automotive Stock Down 6.2 %

The business has a 50 day simple moving average of $11.57 and a 200-day simple moving average of $148.31.

Mullen Automotive (NASDAQ:MULN) last released 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 for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%.

Insiders Place Their Bets

In other Mullen Automotive news, Director Mary Winter sold 62,000 shares of Mullen Automotive 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction that occurred on 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 transaction, the director now directly owns 9 shares in the company, valued at approximately $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. 3.63% of the stock is owned by insiders.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission. 11.71% of the stock is owned by institutional investors and hedge funds.

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.