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

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 5.1% on Wednesday . The stock traded as low as $2.01 and last traded at $2.04. Approximately 644,522 shares were traded during trading, a decline of 78% from the average daily volume of 2,899,706 shares. The stock had previously closed at $2.15.

Mullen Automotive Price Performance

The firm’s fifty day moving average price is $23.40 and its 200-day moving average price is $291.04.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($661.33) earnings per share (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 company had revenue of $2.92 million during the quarter.

Insider Buying and Selling

In other news, Director Mary Winter sold 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total transaction of $124,620.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Kevin Andersen sold 174,500 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were 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 approximately $8.19. This trade represents a 99.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,216 shares of company stock worth $302,766 in the last quarter. 3.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 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.