Mullen Automotive (NASDAQ:MULN) Shares Down 1.2% on Insider Selling

Mullen Automotive, Inc. (NASDAQ:MULN) was down 1.2% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $1.74 and last traded at $1.83. Approximately 727,779 shares traded hands during trading, a decline of 75% from the average daily volume of 2,882,628 shares. The stock had previously closed at $1.85.

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 filing with the SEC, which can be accessed through this link.

Mullen Automotive Price Performance

The company has a 50-day moving average price of $23.40 and a 200-day moving average price of $291.04.

Mullen Automotive (NASDAQ:MULN) last released its 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 firm had revenue of $2.92 million for the quarter.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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. 11.71% of the stock is owned by hedge funds and other institutional investors.

About Mullen Automotive

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.