Mullen Automotive (NASDAQ:MULN) Trading 16.6% Higher

Mullen Automotive, Inc. (NASDAQ:MULN) was up 16.6% during trading on Tuesday . The stock traded as high as $0.97 and last traded at $0.90. Approximately 14,288,354 shares were traded during trading, an increase of 369% from the average daily volume of 3,048,375 shares. The stock had previously closed at $0.77.

Mullen Automotive Price Performance

The company’s fifty day simple moving average is $2.42 and its 200 day simple moving average is $4.56.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($19.39) earnings per share for the quarter. The business had revenue of $0.02 million during the quarter.

Insider Buying and Selling at Mullen Automotive

In other news, insider Calin Popa sold 23,223 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $3.10, for a total transaction of $71,991.30. Following the completion of the sale, the insider now owns 286,506 shares in the company, valued at $888,168.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive as of its most recent SEC filing. Institutional investors and hedge funds own 11.71% of the company’s stock.

About Mullen Automotive

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.