Mullen Automotive (NASDAQ:MULN) Trading Up 9.6% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN) traded up 9.6% during mid-day trading on Friday . The stock traded as high as $0.11 and last traded at $0.09. 258,018,091 shares were traded during mid-day trading, an increase of 4,212% from the average session volume of 5,983,743 shares. The stock had previously closed at $0.08.

Mullen Automotive Stock Performance

The firm’s 50-day moving average price is $6.14 and its 200 day moving average price is $87.98.

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

Insider Transactions at Mullen Automotive

In other news, Director Mary Winter sold 62,000 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Kevin Andersen sold 174,500 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total transaction of $158,795.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 241,216 shares of company stock valued at $302,766 over the last 90 days. 3.63% of the stock is owned by company insiders.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 filing with the Securities and Exchange Commission (SEC). 11.71% of the stock is currently owned by hedge funds and other 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.