Mullen Automotive (NASDAQ:MULN) Stock Price Up 8.3% – Here’s Why

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were up 8.3% on Monday . The company traded as high as $2.90 and last traded at $2.78. Approximately 455,266 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,894,979 shares. The stock had previously closed at $2.57.

Mullen Automotive Stock Down 19.8 %

The firm has a 50 day moving average price of $28.37 and a 200-day moving average price of $320.97.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. 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 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 sale, the director now directly owns 9 shares of the company’s stock, valued at approximately $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 accessible through this link. Insiders sold a total of 179,216 shares of company stock valued at $178,146 over the last 90 days. Insiders own 3.63% of the company’s stock.

Institutional Trading of Mullen Automotive

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