Mullen Automotive (NASDAQ:MULN) Stock Price Down 16.2% – Should You Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 16.2% during trading on Friday . The company traded as low as $0.29 and last traded at $0.29. Approximately 4,683,718 shares traded hands during mid-day trading, an increase of 501% from the average daily volume of 779,938 shares. The stock had previously closed at $0.34.

Mullen Automotive Stock Down 14.1 %

The business has a 50 day moving average of $12.10 and a 200 day moving average of $173.10.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($661.33) EPS 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 for the quarter.

Insider Buying and Selling

In other news, Director Mary Winter sold 62,000 shares of Mullen Automotive stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total transaction of $124,620.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction dated Tuesday, January 7th. The shares were 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 in the company, 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. In the last ninety days, insiders sold 241,216 shares of company stock worth $302,766. 3.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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 SEC filing. 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.