Mullen Automotive (NASDAQ:MULN) Trading Down 16.5% – What’s Next?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 16.5% on Thursday . The stock traded as low as $0.08 and last traded at $0.09. 27,116,451 shares traded hands during mid-day trading, an increase of 467% from the average session volume of 4,786,576 shares. The stock had previously closed at $0.10.

Mullen Automotive Stock Performance

The stock has a 50-day moving average price of $6.14 and a 200-day moving average price of $91.73.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share (EPS) 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.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total value of $158,795.00. Following the transaction, the director now directly owns 9 shares of the company’s stock, valued at approximately $8.19. The trade was a 99.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Winter sold 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total transaction of $124,620.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,216 shares of company stock valued at $302,766. 3.63% of the stock is currently owned by insiders.

Institutional Trading of Mullen Automotive

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