Mullen Automotive (NASDAQ:MULN) Stock Price Down 5.2%

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 5.2% during mid-day trading on Thursday . The company traded as low as $1.09 and last traded at $1.10. Approximately 1,217,902 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 2,904,248 shares. The stock had previously closed at $1.16.

Mullen Automotive Trading Down 12.9 %

The stock has a fifty day simple moving average of $2.55 and a 200-day simple moving average of $4.75.

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

Insiders Place Their Bets

In related news, insider Calin Popa sold 23,223 shares of the firm’s 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 transaction, the insider now owns 286,506 shares of the company’s stock, valued at approximately $888,168.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position 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 bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is currently owned by institutional investors.

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.