Mullen Automotive (NASDAQ:MULN) Shares Down 24.6% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) was down 24.6% on Thursday . The company traded as low as $3.03 and last traded at $3.05. Approximately 2,196,882 shares changed hands during trading, a decline of 26% from the average daily volume of 2,953,710 shares. The stock had previously closed at $4.04.

Mullen Automotive Price Performance

The company has a 50-day moving average of $31.11 and a 200-day moving average of $375.04.

Mullen Automotive (NASDAQ:MULN) last posted its quarterly 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 company had revenue of $2.92 million for the quarter.

Insider Buying and Selling

In related news, Director John Kevin Andersen sold 174,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 9 shares in the company, valued at $8.19. This represents a 99.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.63% of the stock is owned by insiders.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent filing with the SEC. 11.71% of the stock is owned by institutional investors and hedge funds.

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.