Mullen Automotive (NASDAQ:MULN) Shares Down 2.9%

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 2.9% during mid-day trading on Monday . The company traded as low as $1.99 and last traded at $2.02. Approximately 1,891,868 shares traded hands during trading, a decline of 31% from the average daily volume of 2,740,760 shares. The stock had previously closed at $2.08.

Mullen Automotive Price Performance

The business’s 50-day moving average price is $3.47 and its two-hundred day moving average price is $5.59.

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

Insider Activity

In other news, insider Calin Popa sold 23,223 shares of Mullen Automotive stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $3.10, for a total value of $71,991.30. Following the completion of the sale, the insider now directly owns 286,506 shares in the company, valued at $888,168.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. FNY Investment Advisers LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,700 shares of the company’s stock, valued at approximately $38,000. FNY Investment Advisers LLC owned approximately 0.07% of Mullen Automotive at the end of the most recent reporting period. Hedge funds and other institutional investors 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.