Mullen Automotive (NASDAQ:MULN) Trading Down 5.5% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 5.5% during trading on Monday . The stock traded as low as $0.67 and last traded at $0.71. Approximately 1,411,053 shares were traded during mid-day trading, an increase of 134% from the average daily volume of 603,195 shares. The stock had previously closed at $0.75.

Mullen Automotive Stock Down 16.5 %

The company’s fifty day simple moving average is $15.79 and its two-hundred day simple moving average is $194.71.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($661.33) EPS for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. The business had revenue of $2.92 million for the quarter.

Insider Activity

In other news, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction dated 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 in the company, valued at $8.19. The trade was a 99.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Winter sold 62,000 shares of Mullen Automotive stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total value of $124,620.00. The disclosure for this sale can be found here. Insiders have sold 241,216 shares of company stock worth $302,766 in the last 90 days. Corporate 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 bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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. 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.