Financial Lp Hrt Acquires 546,706 Shares of Mullen Automotive, Inc. (NASDAQ:MULN) Stock

Mullen Automotive, Inc. (NASDAQ:MULN) major shareholder Financial Lp Hrt bought 546,706 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average price of $0.08 per share, with a total value of $43,736.48. Following the completion of the acquisition, the insider now owns 665,392 shares of the company’s stock, valued at $53,231.36. This trade represents a 460.63 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mullen Automotive Stock Down 19.0 %

Shares of MULN stock opened at $0.04 on Thursday. Mullen Automotive, Inc. has a fifty-two week low of $0.04 and a fifty-two week high of $4,710,000.00. The firm’s 50 day moving average price is $4.40 and its two-hundred day moving average price is $75.60.

Shares of Mullen Automotive are set to reverse split on Friday, April 11th. The 1-100 reverse split was announced on Wednesday, April 9th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, April 10th.

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

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive at the end of the most recent reporting period. Institutional investors and hedge funds own 11.71% of the company’s stock.

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.