Mullen Automotive (NASDAQ:MULN) Stock Price Down 5.1% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price dropped 5.1% on Wednesday . The stock traded as low as $0.96 and last traded at $1.03. Approximately 1,011,798 shares changed hands during mid-day trading, an increase of 85% from the average daily volume of 547,831 shares. The stock had previously closed at $1.08.

Mullen Automotive Price Performance

The company has a fifty day moving average price of $19.56 and a two-hundred day moving average price of $234.26.

Mullen Automotive (NASDAQ:MULN) last announced its earnings results on Wednesday, February 19th. The company reported ($661.33) EPS 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 Transactions at Mullen Automotive

In other Mullen Automotive news, Director Mary Winter sold 62,000 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Kevin Andersen sold 174,500 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total transaction of $158,795.00. Following the completion of the sale, the director now owns 9 shares of the company’s stock, valued at $8.19. This trade represents a 99.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,216 shares of company stock worth $302,766. Company insiders own 3.63% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent quarter. 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.