Mullen Automotive (NASDAQ:MULN) Trading Down 23.5% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) fell 23.5% during trading on Tuesday . The stock traded as low as $2.36 and last traded at $2.50. 883,975 shares changed hands during trading, an increase of 118% from the average session volume of 404,803 shares. The stock had previously closed at $3.27.

Mullen Automotive Trading Down 22.5 %

The business’s 50-day simple moving average is $34.04 and its two-hundred day simple moving average is $402.89.

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

Insider Buying and Selling

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total value of $158,795.00. Following the completion of the transaction, the director now directly owns 9 shares of the company’s stock, valued at $8.19. This trade represents a 99.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent filing with the Securities & 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 & Exchange Commission. Institutional investors and hedge funds 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.