Mullen Automotive (NASDAQ:MULN) Trading Down 0.8% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 0.8% during trading on Friday . The stock traded as low as $0.73 and last traded at $0.82. Approximately 1,505,907 shares changed hands during trading, an increase of 156% from the average daily volume of 588,663 shares. The stock had previously closed at $0.83.

Mullen Automotive Trading Down 5.0 %

The firm’s 50-day moving average is $16.95 and its 200 day moving average is $231.02.

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

Insider Transactions at Mullen Automotive

In other Mullen Automotive news, Director Mary Winter sold 62,000 shares of Mullen Automotive stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total value of $124,620.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Kevin Andersen sold 174,500 shares of the 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 directly owns 9 shares in the company, valued at $8.19. This trade represents a 99.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,216 shares of company stock worth $302,766 over the last three months. 3.63% of the stock is owned by company 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) during the third quarter, according to its most recent filing with the SEC. The firm 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 SEC filing. 11.71% of the stock is 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.