Mullen Automotive (NASDAQ:MULN) Shares Down 11.8% Following Insider Selling

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 11.8% during mid-day trading on Friday following insider selling activity. The stock traded as low as $1.38 and last traded at $1.39. 797,382 shares traded hands during trading, a decline of 72% from the average session volume of 2,860,002 shares. The stock had previously closed at $1.58.

Specifically, Director Mary Winter sold 62,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink.

Mullen Automotive Price Performance

The stock has a 50-day moving average of $24.64 and a 200 day moving average of $293.07.

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

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 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period. Institutional investors 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.